Ontario Teachers Pension Plan Board decreased its position in Snap-on Incorporated (NYSE:SNA) by 93.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,824 shares of the company’s stock after selling 27,495 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Snap-on were worth $269,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Comerica Bank raised its stake in shares of Snap-on by 20.4% in the 4th quarter. Comerica Bank now owns 20,827 shares of the company’s stock valued at $3,806,000 after purchasing an additional 3,523 shares during the period. Aperio Group LLC raised its stake in shares of Snap-on by 2.4% in the 4th quarter. Aperio Group LLC now owns 22,088 shares of the company’s stock valued at $3,850,000 after purchasing an additional 513 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Snap-on by 3.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 9,983 shares of the company’s stock valued at $1,740,000 after purchasing an additional 331 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Snap-on by 2,817.0% in the 4th quarter. Teacher Retirement System of Texas now owns 127,792 shares of the company’s stock valued at $22,274,000 after purchasing an additional 123,411 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Snap-on by 3.3% in the 4th quarter. California Public Employees Retirement System now owns 144,472 shares of the company’s stock valued at $25,181,000 after purchasing an additional 4,614 shares during the period. 99.39% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on SNA shares. Robert W. Baird reissued a “buy” rating and issued a $210.00 price target on shares of Snap-on in a research note on Friday, April 20th. ValuEngine downgraded Snap-on from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Northcoast Research set a $178.00 price target on Snap-on and gave the company a “buy” rating in a research note on Monday, April 23rd. Barrington Research reissued a “buy” rating on shares of Snap-on in a research note on Thursday, March 8th. Finally, Zacks Investment Research raised Snap-on from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Snap-on has an average rating of “Hold” and an average price target of $189.13.
Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 19th. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.06. The business had revenue of $935.50 million for the quarter, compared to the consensus estimate of $926.52 million. Snap-on had a return on equity of 20.63% and a net margin of 15.50%. Snap-on’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.39 earnings per share. analysts anticipate that Snap-on Incorporated will post 11.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Monday, May 21st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, May 18th. Snap-on’s dividend payout ratio is currently 32.41%.
In related news, SVP Thomas J. Ward sold 42,000 shares of Snap-on stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $153.36, for a total value of $6,441,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by insiders.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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