State Board of Administration of Florida Retirement System Boosts Stake in Snap-on Incorporated (SNA)

State Board of Administration of Florida Retirement System boosted its stake in Snap-on Incorporated (NYSE:SNA) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,113 shares of the company’s stock after purchasing an additional 717 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Snap-on were worth $11,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNA. Dimensional Fund Advisors LP raised its holdings in shares of Snap-on by 9.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 729,959 shares of the company’s stock valued at $134,023,000 after acquiring an additional 60,814 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Snap-on by 2.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 706,420 shares of the company’s stock valued at $102,635,000 after acquiring an additional 13,755 shares in the last quarter. Morgan Stanley raised its holdings in shares of Snap-on by 348.6% in the 3rd quarter. Morgan Stanley now owns 623,240 shares of the company’s stock valued at $114,427,000 after acquiring an additional 484,317 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Snap-on by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 617,608 shares of the company’s stock valued at $113,394,000 after acquiring an additional 15,079 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Snap-on by 6.0% in the 3rd quarter. Bessemer Group Inc. now owns 612,065 shares of the company’s stock valued at $112,375,000 after acquiring an additional 34,587 shares in the last quarter.

Several analysts have weighed in on the company. Zacks Investment Research cut Snap-on from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Bank of America assumed coverage on Snap-on in a report on Friday, December 21st. They issued a “buy” rating and a $165.00 price target on the stock. Robert W. Baird lowered their price target on Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Barrington Research reaffirmed a “buy” rating and issued a $196.00 price target on shares of Snap-on in a report on Tuesday, October 16th. Finally, TheStreet raised Snap-on from a “c+” rating to a “b-” rating in a report on Friday, January 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Snap-on currently has a consensus rating of “Hold” and a consensus target price of $190.33.

Shares of NYSE SNA opened at $155.24 on Tuesday. The stock has a market cap of $8.52 billion, a P/E ratio of 13.14, a PEG ratio of 1.21 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 2.33. Snap-on Incorporated has a 1-year low of $135.29 and a 1-year high of $189.46.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $3.03. The company had revenue of $952.50 million for the quarter, compared to analysts’ expectations of $968.74 million. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. Snap-on’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.69 EPS. As a group, equities analysts expect that Snap-on Incorporated will post 12.39 earnings per share for the current year.

In related news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $140.80, for a total transaction of $3,158,566.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.

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About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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