California Public Employees Retirement System increased its holdings in Snap-On Incorporated (NYSE:SNA) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 139,858 shares of the company’s stock after buying an additional 3,558 shares during the quarter. California Public Employees Retirement System owned about 0.25% of Snap-On worth $20,840,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNA. Koch Industries Inc. increased its holdings in Snap-On by 64,484.7% in the 2nd quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock worth $912,000 after buying an additional 916,327 shares in the last quarter. Schroder Investment Management Group increased its holdings in Snap-On by 59.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after buying an additional 422,366 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Snap-On by 1,814.9% in the 2nd quarter. Renaissance Technologies LLC now owns 436,600 shares of the company’s stock worth $68,983,000 after buying an additional 413,800 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Snap-On by 153.0% in the 2nd quarter. Principal Financial Group Inc. now owns 649,609 shares of the company’s stock worth $102,639,000 after buying an additional 392,816 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Snap-On by 107.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 694,612 shares of the company’s stock worth $103,506,000 after buying an additional 359,772 shares in the last quarter. Institutional investors own 99.40% of the company’s stock.
Snap-On Incorporated (NYSE:SNA) traded down $0.17 during midday trading on Friday, reaching $183.59. The company had a trading volume of 584,714 shares, compared to its average volume of 544,095. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26. Snap-On Incorporated has a one year low of $140.83 and a one year high of $185.47. The stock has a market cap of $10,470.00, a PE ratio of 18.87, a PEG ratio of 1.36 and a beta of 1.14.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 19th. The company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company had revenue of $903.80 million for the quarter, compared to analysts’ expectations of $889.22 million. During the same period in the previous year, the firm earned $2.22 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. sell-side analysts predict that Snap-On Incorporated will post 10.09 earnings per share for the current fiscal year.
In related news, CEO Nicholas T. Pinchuk sold 20,680 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.
SNA has been the topic of several research reports. Zacks Investment Research cut Snap-On from a “buy” rating to a “hold” rating in a research report on Friday. FBR & Co reissued a “buy” rating and issued a $205.00 target price on shares of Snap-On in a research report on Thursday, October 19th. B. Riley reissued a “buy” rating and issued a $205.00 target price on shares of Snap-On in a research report on Thursday, January 4th. Jefferies Group reissued a “hold” rating and issued a $175.00 target price on shares of Snap-On in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $177.00 price objective on shares of Snap-On in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $193.56.
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Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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