Public Employees Retirement System of Ohio Trims Stock Position in Snap-on Incorporated (NYSE:SNA)

Public Employees Retirement System of Ohio lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,802 shares of the company’s stock after selling 1,500 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Snap-on were worth $7,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Scarborough Advisors LLC acquired a new position in Snap-on in the 4th quarter valued at $30,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Snap-on during the fourth quarter worth about $55,000. Fidelis Capital Partners LLC purchased a new position in Snap-on during the first quarter worth about $56,000. EntryPoint Capital LLC acquired a new stake in Snap-on in the first quarter valued at about $61,000. Finally, Venturi Wealth Management LLC boosted its holdings in Snap-on by 17.2% in the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock valued at $79,000 after purchasing an additional 40 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

NYSE SNA traded up $1.83 during mid-day trading on Tuesday, hitting $282.05. The stock had a trading volume of 6,797 shares, compared to its average volume of 301,043. The company has a 50 day simple moving average of $267.68 and a 200 day simple moving average of $277.13. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.94 and a beta of 0.98. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $4.89 earnings per share. Snap-on’s revenue was down 1.0% compared to the same quarter last year. Equities analysts forecast that Snap-on Incorporated will post 18.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird cut their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Tigress Financial reiterated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has an average rating of “Moderate Buy” and an average target price of $315.00.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of Snap-on stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The disclosure for this sale can be found here. In the last three months, insiders sold 38,632 shares of company stock worth $10,353,409. 4.10% of the stock is owned by corporate insiders.

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.