California State Teachers Retirement System trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,420 shares of the company’s stock after selling 5,363 shares during the quarter. California State Teachers Retirement System owned approximately 0.19% of Snap-On worth $17,447,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Dempsey Capital Management LLC lifted its holdings in Snap-On by 63.7% during the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock valued at $107,000 after purchasing an additional 263 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings in Snap-On by 700.0% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $126,000 after purchasing an additional 700 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in Snap-On during the second quarter valued at approximately $126,000. Lloyds Banking Group plc purchased a new position in Snap-On during the second quarter valued at approximately $129,000. Finally, IHT Wealth Management LLC lifted its holdings in Snap-On by 13.8% during the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock valued at $160,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 93.10% of the company’s stock.
Snap-On Incorporated (NYSE SNA) traded down 0.68% during trading on Friday, hitting $158.38. 224,457 shares of the stock traded hands. The stock has a market cap of $9.12 billion, a P/E ratio of 16.40 and a beta of 1.05. The stock has a 50 day moving average price of $150.72 and a 200-day moving average price of $156.22. Snap-On Incorporated has a 52-week low of $140.83 and a 52-week high of $181.73.
Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 EPS. On average, analysts anticipate that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.
Snap-On declared that its Board of Directors has authorized a share repurchase plan on Monday, August 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, Director Ruth Ann M. Gillis acquired 265 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were bought at an average price of $152.58 per share, for a total transaction of $40,433.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.
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SNA has been the topic of several analyst reports. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price target on shares of Snap-On in a report on Thursday, July 6th. FBR & Co reaffirmed an “outperform” rating and set a $205.00 price target on shares of Snap-On in a report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $197.00 target price on shares of Snap-On in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $192.00.
Snap-On Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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