Teacher Retirement System of Texas Purchases 14,774 Shares of Snap-on Incorporated (NYSE:SNA)

Teacher Retirement System of Texas lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 31.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 61,477 shares of the company’s stock after buying an additional 14,774 shares during the quarter. Teacher Retirement System of Texas’ holdings in Snap-on were worth $20,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Greenleaf Trust increased its position in shares of Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after acquiring an additional 30 shares in the last quarter. UMB Bank n.a. grew its position in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. WCM Investment Management LLC grew its position in Snap-on by 4.5% in the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares during the period. New York Life Investment Management LLC grew its position in Snap-on by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after purchasing an additional 31 shares during the period. Finally, Inspire Advisors LLC grew its position in Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after purchasing an additional 34 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on 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 transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

Snap-on Trading Down 0.7 %

Shares of SNA stock opened at $327.59 on Friday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The firm has a fifty day moving average price of $340.99 and a 200-day moving average price of $331.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $4.75 earnings per share. As a group, equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current 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 paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is 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.