California Public Employees Retirement System Acquires 1,503 Shares of Snap-On Incorporated $SNA

California Public Employees Retirement System raised its holdings in Snap-On Incorporated (NYSE:SNA) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,128 shares of the company’s stock after buying an additional 1,503 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Snap-On worth $29,291,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SNA. Tobam bought a new position in shares of Snap-On during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC purchased a new position in Snap-On during the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC raised its holdings in Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Snap-On in the 1st quarter worth about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNA. Robert W. Baird increased their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Roth Capital reaffirmed a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Tigress Financial raised their target price on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 3,091 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $346.80, for a total value of $1,071,958.80. Following the transaction, the chief financial officer owned 108,648 shares in the company, valued at $37,679,126.40. The trade was a 2.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jesus Arregui sold 3,831 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the sale, the senior vice president owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,257 shares of company stock worth $11,323,424 in the last 90 days. 3.90% of the stock is owned by company insiders.

Snap-On Price Performance

Shares of NYSE SNA opened at $348.85 on Thursday. The company has a 50 day simple moving average of $339.69 and a two-hundred day simple moving average of $329.51. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $365.78. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business posted $4.70 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were issued a dividend of $2.44 per share. The ex-dividend date was Friday, November 21st. This is a boost from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s dividend payout ratio is 51.18%.

About Snap-On

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.