Texas Permanent School Fund Corp Has $2.28 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Texas Permanent School Fund Corp cut its position in Snap-on Incorporated (NYSE:SNA) by 20.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,733 shares of the company’s stock after selling 2,181 shares during the period. Texas Permanent School Fund Corp’s holdings in Snap-on were worth $2,283,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SNA. Scarborough Advisors LLC acquired a new stake in Snap-on during the 4th quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on in the second quarter valued at $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the second quarter valued at about $32,000. Versant Capital Management Inc lifted its position in Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Snap-on during the 1st quarter worth about $56,000. 84.88% of the stock is owned by institutional investors.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. Insiders sold 29,804 shares of company stock valued at $8,077,390 in the last quarter. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SNA shares. Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Robert W. Baird cut their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Stock Performance

SNA stock opened at $280.08 on Wednesday. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The company has a market cap of $14.77 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.98. The business’s fifty day moving average is $275.73 and its 200-day moving average is $276.58.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.89 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its board has initiated a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.66%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.