California State Teachers Retirement System Has $13.69 Billion Stock Holdings in Snap-On Incorporated $SNA

California State Teachers Retirement System increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 37,771.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,015,677 shares of the company’s stock after buying an additional 33,925,859 shares during the quarter. California State Teachers Retirement System owned about 0.66% of Snap-On worth $13,687,908,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after acquiring an additional 28 shares in the last quarter. Verition Fund Management LLC grew its position in Snap-On by 1.5% in the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after purchasing an additional 28 shares during the period. Ritholtz Wealth Management grew its position in Snap-On by 2.4% in the 1st quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock valued at $521,000 after purchasing an additional 34 shares during the period. Pinnacle Associates Ltd. increased its stake in Snap-On by 5.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 758 shares of the company’s stock valued at $261,000 after purchasing an additional 39 shares in the last quarter. Finally, CX Institutional increased its stake in Snap-On by 10.6% during the 2nd quarter. CX Institutional now owns 447 shares of the company’s stock valued at $180,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Snap-On Price Performance

SNA opened at $379.97 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.69 and a beta of 0.72. The firm’s fifty day moving average price is $402.36 and its two-hundred day moving average price is $385.44. Snap-On Incorporated has a 1 year low of $320.80 and a 1 year high of $423.02.

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

Snap-On Dividend Announcement

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

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 22,889 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the transaction, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the sale, the vice president directly owned 4,529 shares of the company’s stock, valued at $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 40,720 shares of company stock worth $16,500,198. Company insiders own 3.80% 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.