Sit Investment Associates Inc. lowered its stake in Snap-On Incorporated (NYSE:SNA) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,300 shares of the company’s stock after selling 4,085 shares during the period. Sit Investment Associates Inc.’s holdings in Snap-On were worth $4,313,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in SNA. Vanguard Group Inc. raised its position in Snap-On by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,482,405 shares of the company’s stock valued at $924,717,000 after buying an additional 158,474 shares during the period. BlackRock Inc. raised its position in Snap-On by 2,077.9% in the first quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock valued at $613,657,000 after buying an additional 3,471,155 shares during the period. State Street Corp raised its position in Snap-On by 4.3% in the first quarter. State Street Corp now owns 2,505,691 shares of the company’s stock valued at $422,636,000 after buying an additional 102,268 shares during the period. FMR LLC raised its position in Snap-On by 0.3% in the first quarter. FMR LLC now owns 1,140,188 shares of the company’s stock valued at $192,316,000 after buying an additional 3,670 shares during the period. Finally, Wellington Management Group LLP raised its position in Snap-On by 9.7% in the first quarter. Wellington Management Group LLP now owns 1,001,089 shares of the company’s stock valued at $168,853,000 after buying an additional 88,131 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.
Snap-On Incorporated (NYSE:SNA) traded down 0.80% during trading on Friday, reaching $149.13. The company’s stock had a trading volume of 545,513 shares. Snap-On Incorporated has a 52 week low of $145.17 and a 52 week high of $181.73. The company has a market cap of $8.64 billion, a P/E ratio of 15.81 and a beta of 1.06. The company’s 50 day moving average price is $156.90 and its 200 day moving average price is $166.66.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.60 EPS for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.07% and a return on equity of 20.94%. The company had revenue of $921.40 million during the quarter, compared to the consensus estimate of $920.87 million. During the same period in the prior year, the business posted $2.36 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.
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SNA has been the topic of several recent research reports. FBR & Co restated a “buy” rating and set a $205.00 target price on shares of Snap-On in a report on Friday. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Group LLC restated a “hold” rating and set a $175.00 target price on shares of Snap-On in a report on Thursday, July 6th. CIBC restated an “outperform” rating and set a $200.00 target price on shares of Snap-On in a report on Wednesday, April 12th. Finally, Oppenheimer Holdings, Inc. initiated coverage on Snap-On in a report on Tuesday, April 11th. They set an “outperform” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Snap-On presently has an average rating of “Hold” and a consensus target price of $198.00.
In other news, SVP Thomas J. Ward sold 42,000 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $174.88, for a total transaction of $7,344,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jeanne M. Moreno sold 12,459 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $176.54, for a total transaction of $2,199,511.86. Following the transaction, the vice president now owns 10,486 shares of the company’s stock, valued at $1,851,198.44. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
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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