Texas Permanent School Fund grew its holdings in shares of Snap-on Incorporated (NYSE:SNA – Get Rating) by 6.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,537 shares of the company’s stock after purchasing an additional 487 shares during the period. Texas Permanent School Fund’s holdings in Snap-on were worth $1,518,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of SNA. J.W. Cole Advisors Inc. acquired a new position in shares of Snap-on during the first quarter valued at $26,000. Parkside Financial Bank & Trust boosted its stake in Snap-on by 57.3% during the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after buying an additional 47 shares in the last quarter. NuWave Investment Management LLC bought a new position in Snap-on during the third quarter valued at about $29,000. Venture Visionary Partners LLC bought a new position in Snap-on during the second quarter valued at about $30,000. Finally, Washington Trust Advisors Inc. boosted its stake in Snap-on by 752.2% during the second quarter. Washington Trust Advisors Inc. now owns 196 shares of the company’s stock valued at $39,000 after buying an additional 173 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. StockNews.com assumed coverage on Snap-on in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Oppenheimer cut Snap-on from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 6th.
Snap-on Trading Up 1.0 %
Snap-on (NYSE:SNA – Get Rating) last released its quarterly earnings results on Thursday, October 20th. The company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.38. Snap-on had a return on equity of 20.84% and a net margin of 20.17%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $3.57 EPS. Snap-on’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts forecast that Snap-on Incorporated will post 16.49 earnings per share for the current year.
Snap-on Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 21st were given a $1.62 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, November 18th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.62%. Snap-on’s dividend payout ratio (DPR) is 39.25%.
Insider Activity at Snap-on
In related news, CFO Aldo John Pagliari sold 8,090 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $236.77, for a total value of $1,915,469.30. Following the completion of the sale, the chief financial officer now directly owns 77,541 shares of the company’s stock, valued at approximately $18,359,382.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Aldo John Pagliari sold 8,090 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $236.77, for a total value of $1,915,469.30. Following the completion of the sale, the chief financial officer now directly owns 77,541 shares of the company’s stock, valued at approximately $18,359,382.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 31,576 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $233.79, for a total value of $7,382,153.04. Following the completion of the sale, the chief executive officer now directly owns 658,765 shares of the company’s stock, valued at $154,012,669.35. The disclosure for this sale can be found here. Insiders sold 48,166 shares of company stock worth $11,337,057 in the last quarter. 4.30% of the stock is owned by company insiders.
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.
- Get a free copy of the StockNews.com research report on Snap-on (SNA)
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