California Public Employees Retirement System Sells 2,964 Shares of Snap-on Incorporated (NYSE:SNA)

California Public Employees Retirement System lowered its position in Snap-on Incorporated (NYSE:SNA) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,496 shares of the company’s stock after selling 2,964 shares during the period. California Public Employees Retirement System owned about 0.17% of Snap-on worth $31,061,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on in the fourth quarter worth approximately $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on during the 4th quarter worth $40,000. Finally, TCTC Holdings LLC grew its position in shares of Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SNA. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has a consensus rating of “Moderate Buy” and an average target price of $355.33.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,011 shares of company stock valued at $12,116,859. Insiders own 3.90% of the company’s stock.

Snap-on Stock Up 0.8 %

NYSE SNA opened at $342.26 on Thursday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.94 billion, a PE ratio of 17.55, a P/E/G ratio of 2.21 and a beta of 0.99. The stock’s 50 day moving average is $339.41 and its 200 day moving average is $334.80.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the firm earned $4.75 EPS. Research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.50%. Snap-on’s dividend payout ratio is currently 43.90%.

About Snap-on

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.