Teacher Retirement System of Texas Buys 14,774 Shares of Snap-on Incorporated (NYSE:SNA)

Teacher Retirement System of Texas grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 31.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,477 shares of the company’s stock after buying an additional 14,774 shares during the quarter. Teacher Retirement System of Texas owned 0.12% of Snap-on worth $20,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNA. UMB Bank n.a. grew its stake in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on during the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on during the fourth quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in shares of Snap-on during the third quarter worth about $39,000. Finally, TCTC Holdings LLC boosted its holdings in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after purchasing an additional 43 shares during the period. 84.88% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNA. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $346.40.

Snap-on Stock Performance

Shares of SNA opened at $327.59 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a 50-day simple moving average of $340.99 and a two-hundred day simple moving average of $331.05. The firm has a market capitalization of $17.17 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the firm earned $4.75 earnings per share. On average, analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.61%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

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.