New York State Teachers Retirement System Sells 1,812 Shares of Snap-on Incorporated (NYSE:SNA)

New York State Teachers Retirement System lowered its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,369 shares of the company's stock after selling 1,812 shares during the period. New York State Teachers Retirement System owned 0.11% of Snap-on worth $19,476,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Bleakley Financial Group LLC bought a new stake in shares of Snap-on during the 4th quarter valued at $512,000. Vest Financial LLC boosted its holdings in shares of Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock valued at $34,962,000 after buying an additional 2,460 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings 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 valued at $5,764,000 after buying an additional 67 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Snap-on by 3.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock valued at $13,264,000 after buying an additional 1,605 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in shares of Snap-on during the 3rd quarter valued at $19,291,000. Institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SNA shares. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $345.40.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value 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. The trade was a 96.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares of the company's stock, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,643 shares of company stock valued at $13,580,191. 4.10% of the stock is owned by insiders.

Snap-on Stock Down 1.1 %

Shares of SNA traded down $3.84 during trading hours on Thursday, hitting $338.50. The company had a trading volume of 263,325 shares, compared to its average volume of 390,837. The firm has a fifty day moving average price of $344.52 and a 200-day moving average price of $322.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 2.23 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm posted $4.75 earnings per share. On average, equities research 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 will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, February 24th. Snap-on's dividend payout ratio (DPR) is 43.90%.

About Snap-on

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.