Snap-on Incorporated (NYSE:SNA) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,151 shares of the company’s stock after purchasing an additional 411 shares during the quarter. 1832 Asset Management L.P.’s holdings in Snap-on were worth $2,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Confluence Investment Management LLC acquired a new stake in shares of Snap-on during the first quarter worth approximately $173,451,000. Norges Bank bought a new stake in shares of Snap-on in the 4th quarter worth about $145,665,000. Mawer Investment Management Ltd. acquired a new stake in shares of Snap-on in the 1st quarter valued at about $55,954,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Snap-on by 1,416.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after purchasing an additional 137,920 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Snap-on by 31,080.3% in the fourth quarter. International Assets Investment Management LLC now owns 74,521 shares of the company’s stock worth $21,525,000 after purchasing an additional 74,282 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Robert W. Baird dropped their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the transaction, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The disclosure for this sale can be found here. Insiders sold 38,632 shares of company stock valued at $10,353,409 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Snap-on Stock Performance

Snap-on stock traded up $7.19 during midday trading on Friday, reaching $280.66. 258,932 shares of the stock traded hands, compared to its average volume of 348,910. The firm has a fifty day moving average price of $267.66 and a two-hundred day moving average price of $277.22. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.94 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $4.89 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Snap-on Incorporated will post 18.97 earnings per share for the current year.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.