California State Teachers Retirement System Acquires 1,022 Shares of Snap-on Incorporated (NYSE:SNA)

California State Teachers Retirement System raised its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,668 shares of the company's stock after purchasing an additional 1,022 shares during the period. California State Teachers Retirement System owned 0.17% of Snap-on worth $30,780,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Snap-on in the 4th quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on in the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on in the 4th quarter worth approximately $40,000. TCTC Holdings LLC boosted its stake in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after buying an additional 43 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of Snap-on in the 4th quarter worth approximately $61,000. 84.88% of the stock is owned by institutional investors.

Snap-on Price Performance

Shares of Snap-on stock traded down $1.68 during trading on Friday, hitting $320.68. The stock had a trading volume of 631,514 shares, compared to its average volume of 364,508. The firm has a market cap of $16.77 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The business's 50-day moving average is $321.01 and its 200 day moving average is $337.23. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the company earned $4.91 EPS. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.67%. Snap-on's dividend payout ratio (DPR) is currently 44.82%.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. Robert W. Baird dropped their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Wall Street Zen upgraded Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Snap-on currently has an average rating of "Moderate Buy" and an average target price of $350.83.

Snap-on Company 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.