California Public Employees Retirement System Has $37.44 Million Stake in Snap-On Incorporated $SNA

California Public Employees Retirement System raised its stake in shares of Snap-On Incorporated (NYSE:SNA) by 2.9% in the 1st quarter, Holdings Channel reports. The firm owned 103,067 shares of the company’s stock after purchasing an additional 2,923 shares during the quarter. California Public Employees Retirement System’s holdings in Snap-On were worth $37,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Auto Owners Insurance Co increased its stake in shares of Snap-On by 34,360.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after buying an additional 1,022,210 shares during the period. Norges Bank acquired a new position in shares of Snap-On in the fourth quarter worth approximately $210,814,000. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Snap-On in the fourth quarter worth approximately $69,751,000. UBS Group AG boosted its holdings in Snap-On by 30.7% in the fourth quarter. UBS Group AG now owns 617,620 shares of the company’s stock valued at $212,832,000 after acquiring an additional 144,926 shares during the last quarter. Finally, Miller Howard Investments Inc. NY bought a new stake in Snap-On in the first quarter valued at approximately $51,244,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap-On

In related news, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president directly owned 4,439 shares of the company’s stock, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the transaction, the vice president owned 4,529 shares in the company, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 37,117 shares of company stock valued at $14,003,922. 3.80% of the stock is currently owned by company insiders.

Snap-On Price Performance

Shares of SNA opened at $407.07 on Tuesday. The firm has a market cap of $21.09 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.89 and a beta of 0.73. Snap-On Incorporated has a 52-week low of $312.78 and a 52-week high of $419.68. The business’s 50 day moving average price is $386.57 and its two-hundred day moving average price is $377.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $4.51 EPS. On average, equities analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On declared that its Board of Directors has authorized a share repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Roth Capital restated a “buy” rating and set a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Barclays began coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Friday. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $408.20.

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.