Strs Ohio Sells 8,229 Shares of Snap-On Incorporated $SNA

Strs Ohio lessened its holdings in Snap-On Incorporated (NYSE:SNA) by 87.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,225 shares of the company’s stock after selling 8,229 shares during the quarter. Strs Ohio’s holdings in Snap-On were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SNA. Hudson Edge Investment Partners Inc. increased its stake in Snap-On by 11.4% in the third quarter. Hudson Edge Investment Partners Inc. now owns 22,468 shares of the company’s stock valued at $7,786,000 after acquiring an additional 2,308 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Snap-On during the third quarter valued at approximately $61,134,000. Chicago Partners Investment Group LLC grew its stake in shares of Snap-On by 107.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,330 shares of the company’s stock valued at $456,000 after purchasing an additional 689 shares during the period. Vest Financial LLC raised its holdings in shares of Snap-On by 9.1% in the 3rd quarter. Vest Financial LLC now owns 149,852 shares of the company’s stock worth $51,928,000 after buying an additional 12,472 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC lifted its position in shares of Snap-On by 1.7% during the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 4,695 shares of the company’s stock worth $1,627,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of SNA stock opened at $366.09 on Friday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $375.27. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $353.39 and its 200-day moving average is $340.15. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.80.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is 51.18%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Roth Mkm reiterated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Robert W. Baird set a $370.00 price target on shares of Snap-On in a report on Friday. Finally, Tigress Financial upped their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus target price of $365.83.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the completion of the sale, the chief executive officer directly owned 826,364 shares in the company, valued at $280,261,350.60. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $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 a total of 40,036 shares of company stock valued at $13,710,988 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.