Brinker Capital Inc. Trims Stock Position in Snap-on Incorporated (NYSE:SNA)

Brinker Capital Inc. cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,938 shares of the company’s stock after selling 1,399 shares during the quarter. Brinker Capital Inc.’s holdings in Snap-on were worth $1,712,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SNA. Strs Ohio boosted its stake in Snap-on by 7.4% in the third quarter. Strs Ohio now owns 12,784 shares of the company’s stock valued at $2,001,000 after acquiring an additional 878 shares in the last quarter. Cardinal Capital Management lifted its stake in shares of Snap-on by 1.8% during the third quarter. Cardinal Capital Management now owns 7,416 shares of the company’s stock worth $1,160,000 after buying an additional 130 shares during the period. Mechanics Bank Trust Department acquired a new stake in shares of Snap-on during the third quarter worth $216,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Snap-on by 210.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,889 shares of the company’s stock worth $7,340,000 after buying an additional 31,797 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Snap-on by 34.1% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,639 shares of the company’s stock worth $570,000 after buying an additional 926 shares during the period.

In related news, CEO Nicholas T. Pinchuk sold 19,675 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $155.46, for a total transaction of $3,058,675.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.

Shares of Snap-on stock opened at $165.55 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.61. The firm has a fifty day moving average price of $156.38 and a 200 day moving average price of $157.99. Snap-on Incorporated has a 1 year low of $135.29 and a 1 year high of $174.00. The stock has a market cap of $8.92 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.25.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $2.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The firm had revenue of $901.80 million during the quarter, compared to analysts’ expectations of $909.23 million. During the same quarter last year, the company posted $2.88 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. As a group, equities analysts expect that Snap-on Incorporated will post 12.26 EPS for the current year.

Several research firms have recently commented on SNA. Longbow Research reiterated a “hold” rating on shares of Snap-on in a research note on Monday, July 1st. Robert W. Baird reiterated a “hold” rating and set a $169.00 price objective on shares of Snap-on in a research note on Friday, October 18th. Tigress Financial reiterated a “buy” rating on shares of Snap-on in a research note on Wednesday, July 24th. Zacks Investment Research downgraded shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price objective for the company. in a research note on Tuesday, July 16th. Finally, Barrington Research reiterated a “buy” rating and set a $185.00 price objective on shares of Snap-on in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $173.60.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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

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