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

Public Employees Retirement System of Ohio decreased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,492 shares of the company's stock after selling 1,436 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Snap-on were worth $6,516,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. grew its position in shares of Snap-on by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock worth $5,764,000 after buying an additional 67 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Snap-on during the 2nd quarter worth about $3,653,000. Victory Capital Management Inc. increased its position in Snap-on by 21.5% during the 3rd quarter. Victory Capital Management Inc. now owns 158,777 shares of the company's stock valued at $45,999,000 after purchasing an additional 28,049 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of Snap-on by 220.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company's stock valued at $787,000 after purchasing an additional 1,869 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in shares of Snap-on by 105.5% in the 2nd quarter. Empirical Finance LLC now owns 3,994 shares of the company's stock worth $1,044,000 after purchasing an additional 2,050 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNA. Roth Mkm lifted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research report on Friday, October 18th. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Barrington Research raised their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has a consensus rating of "Hold" and an average target price of $345.40.

Insider Activity at Snap-on

In related news, VP Iain Boyd sold 6,044 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares of the company's stock, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,814 shares of company stock valued at $15,627,963 in the last ninety days. Company insiders own 4.10% of the company's stock.

Snap-on Stock Down 0.1 %

Snap-on stock traded down $0.53 during midday trading on Friday, reaching $355.11. The company's stock had a trading volume of 263,855 shares, compared to its average volume of 313,352. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market capitalization of $18.65 billion, a P/E ratio of 18.28, a PEG ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The stock's 50-day simple moving average is $340.72 and its 200-day simple moving average is $297.21.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping analysts' consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. On average, sell-side analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.41%. Snap-on's payout ratio is 44.06%.

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.