Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stake in Snap-On Incorporated $SNA

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,825 shares of the company’s stock after purchasing an additional 843 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Snap-On were worth $3,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after purchasing an additional 115,306 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snap-On in the 2nd quarter valued at $434,938,000. Nordea Investment Management AB raised its stake in Snap-On by 3.7% during the 2nd quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock worth $376,775,000 after acquiring an additional 43,430 shares in the last quarter. Auto Owners Insurance Co lifted its position in Snap-On by 35,967.2% in the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Snap-On by 5.4% in the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock valued at $283,668,000 after acquiring an additional 43,467 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Robert W. Baird lifted their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Tigress Financial upped their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Trading Up 0.4%

Shares of SNA stock opened at $330.16 on Wednesday. The company has a market capitalization of $17.17 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. 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 business’s 50 day moving average is $338.81 and its two-hundred day moving average is $327.50. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89.

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

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a $2.44 dividend. The ex-dividend date of this dividend is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 3.0%. Snap-On’s payout ratio is presently 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.