Public Sector Pension Investment Board Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

Public Sector Pension Investment Board lifted its position in Snap-on Incorporated (NYSE:SNA) by 93.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,822 shares of the company’s stock after buying an additional 10,058 shares during the quarter. Public Sector Pension Investment Board’s holdings in Snap-on were worth $3,527,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Snap-on by 0.7% in the 4th quarter. State Street Corp now owns 2,514,275 shares of the company’s stock valued at $425,918,000 after buying an additional 17,507 shares during the period. Ariel Investments LLC boosted its position in shares of Snap-on by 4.8% in the 4th quarter. Ariel Investments LLC now owns 978,884 shares of the company’s stock valued at $165,823,000 after purchasing an additional 44,864 shares during the period. Principal Financial Group Inc. boosted its position in shares of Snap-on by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 661,632 shares of the company’s stock valued at $112,080,000 after purchasing an additional 22,986 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-on by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 564,392 shares of the company’s stock valued at $95,609,000 after purchasing an additional 8,342 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Snap-on by 31.2% in the 4th quarter. Schroder Investment Management Group now owns 478,037 shares of the company’s stock valued at $80,979,000 after purchasing an additional 113,576 shares during the period. Hedge funds and other institutional investors own 95.70% of the company’s stock.

SNA has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Snap-on from $169.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Longbow Research reissued a “hold” rating on shares of Snap-on in a research report on Wednesday. Northcoast Research reissued a “neutral” rating on shares of Snap-on in a research report on Friday, February 7th. ValuEngine raised Snap-on from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Barrington Research reaffirmed a “buy” rating and set a $185.00 price objective on shares of Snap-on in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Snap-on has a consensus rating of “Hold” and a consensus price target of $171.60.

In other Snap-on news, SVP Timothy L. Chambers sold 4,320 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $156.54, for a total transaction of $676,252.80. Following the completion of the sale, the senior vice president now directly owns 14,056 shares of the company’s stock, valued at approximately $2,200,326.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Dudley Lehman sold 422 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $155.20, for a total value of $65,494.40. Following the transaction, the director now directly owns 10,429 shares of the company’s stock, valued at $1,618,580.80. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Snap-on stock traded up $2.90 during mid-day trading on Thursday, reaching $112.84. 75,532 shares of the company were exchanged, compared to its average volume of 790,531. Snap-on Incorporated has a twelve month low of $90.72 and a twelve month high of $174.00. The firm’s 50-day simple moving average is $140.24 and its two-hundred day simple moving average is $157.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.71 and a current ratio of 2.51. The firm has a market cap of $5.83 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $3.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.08. Snap-on had a return on equity of 20.62% and a net margin of 18.59%. The company had revenue of $955.20 million during the quarter, compared to analysts’ expectations of $965.58 million. During the same period last year, the firm earned $3.03 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Snap-on Incorporated will post 12.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.32 dividend on an annualized basis and a yield of 3.83%. Snap-on’s payout ratio is 35.24%.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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