Teacher Retirement System of Texas Lowers Position in Snap-On Incorporated (NYSE:SNA)

Teacher Retirement System of Texas decreased its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,219 shares of the company's stock after selling 31,258 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Snap-On worth $10,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Snap-On by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock worth $2,174,233,000 after buying an additional 19,328 shares in the last quarter. First Trust Advisors LP grew its holdings in Snap-On by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after buying an additional 411,317 shares in the last quarter. Geode Capital Management LLC grew its holdings in Snap-On by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after buying an additional 27,700 shares in the last quarter. Earnest Partners LLC grew its holdings in Snap-On by 1.9% during the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after buying an additional 18,209 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Snap-On by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 927,564 shares of the company's stock worth $314,896,000 after buying an additional 50,187 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In related news, 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 owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares in the company, valued at $254,104,483.50. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,815 shares of company stock valued at $9,482,532. Corporate insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SNA shares. Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a report on Monday, March 31st. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research note on Monday, May 19th. Finally, Robert W. Baird reduced their price objective on Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $350.83.

Snap-On Stock Performance

Shares of NYSE SNA traded up $0.99 during trading on Wednesday, reaching $318.07. 226,818 shares of the stock traded hands, compared to its average volume of 368,241. Snap-On Incorporated has a 52-week low of $256.54 and a 52-week high of $373.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. The company has a 50-day moving average of $317.75 and a 200-day moving average of $328.83. The stock has a market capitalization of $16.63 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly 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). Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the company earned $4.91 EPS. Analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.69%. Snap-On's dividend payout ratio (DPR) is 44.82%.

Snap-On 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.