New York State Teachers Retirement System Sells 1,902 Shares of Snap-on Incorporated (NYSE:SNA)

New York State Teachers Retirement System decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,746 shares of the company’s stock after selling 1,902 shares during the period. New York State Teachers Retirement System owned 0.12% of Snap-on worth $17,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Clear Street Markets LLC raised its stake in Snap-on by 96.3% during the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after acquiring an additional 52 shares during the period. Parkside Financial Bank & Trust raised its stake in Snap-on by 57.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after acquiring an additional 47 shares during the period. BKM Wealth Management LLC bought a new stake in Snap-on during the 4th quarter worth approximately $33,000. Peoples Bank KS bought a new stake in Snap-on during the 3rd quarter worth approximately $40,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $43,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of several recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Thursday, February 8th. Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $306.00.

Snap-on Stock Performance

Snap-on stock opened at $293.31 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. Snap-on Incorporated has a 1-year low of $228.00 and a 1-year high of $298.49. The firm has a market capitalization of $15.50 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 2.10 and a beta of 0.99. The company’s 50-day moving average is $284.29 and its 200 day moving average is $276.80.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 8th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted $4.42 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts forecast that Snap-on Incorporated will post 19.21 EPS for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at Snap-on

In other news, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is currently owned by company insiders.

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.