State of Michigan Retirement System raised its stake in Snap-on Incorporated (NYSE:SNA – Get Rating) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,522 shares of the company’s stock after buying an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Snap-on were worth $3,775,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. lifted its stake in Snap-on by 1.1% in the third quarter. Achmea Investment Management B.V. now owns 37,629 shares of the company’s stock valued at $7,577,000 after buying an additional 427 shares during the period. Commerce Bank increased its holdings in shares of Snap-on by 3.0% in the third quarter. Commerce Bank now owns 3,146 shares of the company’s stock worth $633,000 after acquiring an additional 91 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Snap-on by 15.6% in the third quarter. California Public Employees Retirement System now owns 121,859 shares of the company’s stock worth $24,536,000 after acquiring an additional 16,429 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Snap-on by 52.4% in the third quarter. CIBC Asset Management Inc now owns 9,764 shares of the company’s stock worth $1,966,000 after acquiring an additional 3,357 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Snap-on by 8.4% in the third quarter. Huntington National Bank now owns 1,840 shares of the company’s stock worth $370,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.
Insider Buying and Selling at Snap-on
In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $236.05, for a total value of $5,381,940.00. Following the completion of the transaction, the chief executive officer now directly owns 676,929 shares in the company, valued at $159,789,090.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Snap-on news, VP Iain Boyd sold 2,736 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $259.01, for a total value of $708,651.36. Following the completion of the transaction, the vice president now directly owns 6,249 shares in the company, valued at $1,618,553.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $236.05, for a total value of $5,381,940.00. Following the completion of the sale, the chief executive officer now directly owns 676,929 shares of the company’s stock, valued at $159,789,090.45. The disclosure for this sale can be found here. Insiders sold a total of 41,744 shares of company stock worth $10,207,319 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Snap-on Stock Up 1.1 %
NYSE:SNA opened at $235.88 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.40 and a current ratio of 3.47. The company has a market cap of $12.53 billion, a PE ratio of 14.02, a PEG ratio of 1.92 and a beta of 1.09. Snap-on Incorporated has a 52-week low of $190.08 and a 52-week high of $259.78. The stock has a 50-day simple moving average of $244.25 and a 200 day simple moving average of $234.07.
Snap-on (NYSE:SNA – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.09 by $0.33. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Snap-on had a return on equity of 20.83% and a net margin of 20.29%. Snap-on’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $4.10 earnings per share. On average, sell-side analysts expect that Snap-on Incorporated will post 17.1 EPS for the current fiscal year.
Snap-on Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 23rd were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $6.48 dividend on an annualized basis and a yield of 2.75%. Snap-on’s dividend payout ratio is 38.50%.
About Snap-on
Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.
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