Public Employees Retirement System of Ohio Invests $7.22 Million in Snap-On Incorporated $SNA

Public Employees Retirement System of Ohio purchased a new stake in Snap-On Incorporated (NYSE:SNA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,944 shares of the company’s stock, valued at approximately $7,221,000.

Several other institutional investors have also made changes to their positions in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Snap-On by 15.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after acquiring an additional 1,185 shares in the last quarter. Woodline Partners LP increased its position in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,273 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after purchasing an additional 233 shares during the period. Gamco Investors INC. ET AL raised its stake in Snap-On by 32.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after purchasing an additional 434 shares in the last quarter. Finally, Natixis raised its stake in Snap-On by 136.8% in the second quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after purchasing an additional 1,761 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total transaction of $320,000.00. Following the transaction, the vice president owned 1,526 shares of the company’s stock, valued at $610,400. This trade represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 46,728 shares of company stock valued at $18,803,009. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNA shares. Roth Capital reiterated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Tigress Financial boosted their target price on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Barclays initiated coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Finally, Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.20.

Snap-On Stock Performance

Snap-On stock opened at $381.30 on Wednesday. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. The stock has a market cap of $19.72 billion, a PE ratio of 19.44, a P/E/G ratio of 2.72 and a beta of 0.72. Snap-On Incorporated has a 12-month low of $319.20 and a 12-month high of $423.02. The business’s 50-day moving average price is $403.96 and its two-hundred day moving average price is $385.45.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.72 earnings per share. As a group, analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.6%. Snap-On’s dividend payout ratio is presently 49.77%.

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.