Snap-on Incorporated (NYSE:SNA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,496 shares of the company's stock after selling 2,964 shares during the quarter. California Public Employees Retirement System owned 0.17% of Snap-on worth $31,061,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SNA. Vanguard Group Inc. boosted its position in Snap-on by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock valued at $2,174,233,000 after buying an additional 19,328 shares during the period. State Street Corp increased its position in shares of Snap-on by 0.5% during the third quarter. State Street Corp now owns 2,115,973 shares of the company's stock worth $613,019,000 after purchasing an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock valued at $613,195,000 after buying an additional 77,486 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Snap-on by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company's stock valued at $466,199,000 after purchasing an additional 69,590 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after buying an additional 127,859 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

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Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares of the company's stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 over the last 90 days. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SNA. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a report on Monday, March 31st. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Snap-on has an average rating of "Moderate Buy" and a consensus price target of $355.33.

Snap-on Price Performance

NYSE SNA traded down $4.13 during trading hours on Monday, hitting $310.86. 618,064 shares of the company's stock traded hands, compared to its average volume of 346,446. The company has a market capitalization of $16.29 billion, a PE ratio of 15.94, a PEG ratio of 2.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The firm's 50-day moving average is $337.40 and its 200-day moving average is $335.93.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the firm posted $4.75 earnings per share. Equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.75%. Snap-on's dividend payout ratio is currently 43.90%.

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.