State Board of Administration of Florida Retirement System Boosts Stock Position in Snap-On Incorporated $SNA

State Board of Administration of Florida Retirement System grew its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,196 shares of the company’s stock after purchasing an additional 200 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.08% of Snap-On worth $13,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNA. Vanguard Group Inc. increased its holdings in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after buying an additional 80,422 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after acquiring an additional 36,421 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Snap-On during the 2nd quarter valued at approximately $434,938,000. Nordea Investment Management AB raised its holdings in shares of Snap-On by 3.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock worth $376,775,000 after purchasing an additional 43,430 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Snap-On by 5.4% in the 1st quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock worth $283,668,000 after purchasing an additional 43,467 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Finally, Robert W. Baird lifted their target price 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. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

Insiders Place Their Bets

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction that occurred on 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 completion of the sale, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Down 0.4%

Snap-On stock opened at $338.59 on Tuesday. 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 Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $371.12. The stock has a market cap of $17.61 billion, a P/E ratio of 17.76, a PEG ratio of 2.33 and a beta of 0.81. The firm’s fifty day moving average price is $339.25 and its 200-day moving average price is $328.56.

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

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.9%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

Snap-On Company Profile

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.