Public Employees Retirement Association of Colorado Sells 147 Shares of Snap-on Incorporated (NYSE:SNA)

Public Employees Retirement Association of Colorado trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,539 shares of the company’s stock after selling 147 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Snap-on were worth $1,448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNA. Scarborough Advisors LLC purchased a new stake in Snap-on in the fourth quarter worth $30,000. Opal Wealth Advisors LLC bought a new position in shares of Snap-on in the 2nd quarter worth about $30,000. Innealta Capital LLC purchased a new position in Snap-on during the 2nd quarter valued at about $32,000. Versant Capital Management Inc boosted its stake in Snap-on by 529.0% during the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after acquiring an additional 164 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Snap-on during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The disclosure for this sale can be found here. Insiders sold a total of 29,804 shares of company stock valued at $8,077,390 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of recent research reports. Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Friday, September 20th. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Finally, Robert W. Baird decreased their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Snap-on has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

Snap-on Trading Down 0.3 %

Snap-on stock opened at $284.07 on Wednesday. The business has a 50-day simple moving average of $277.61 and a two-hundred day simple moving average of $276.42. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week 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 $14.98 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.95 and a beta of 0.98.

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 company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. Snap-on’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.89 earnings per share. Analysts predict that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on announced that its Board of Directors has initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.62%. Snap-on’s payout ratio is currently 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.