Raiffeisen Bank International AG bought a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 841 shares of the company's stock, valued at approximately $277,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blair William & Co. IL grew its position in Snap-On by 1.8% in the first quarter. Blair William & Co. IL now owns 7,834 shares of the company's stock valued at $2,640,000 after acquiring an additional 141 shares during the last quarter. Argent Trust Co bought a new position in Snap-On in the first quarter valued at about $582,000. J. Safra Sarasin Holding AG grew its position in Snap-On by 102.1% in the first quarter. J. Safra Sarasin Holding AG now owns 9,408 shares of the company's stock valued at $3,171,000 after acquiring an additional 4,754 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Snap-On by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 29,805 shares of the company's stock valued at $10,045,000 after acquiring an additional 110 shares during the last quarter. Finally, IFG Advisory LLC grew its position in Snap-On by 1.1% in the first quarter. IFG Advisory LLC now owns 19,441 shares of the company's stock valued at $6,552,000 after acquiring an additional 209 shares during the last quarter. Institutional investors own 84.88% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird boosted their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Finally, Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $356.17.
Read Our Latest Research Report on SNA
Insider Buying and Selling
In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the transaction, the chief financial officer directly owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the transaction, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,815 shares of company stock valued at $9,482,532 over the last ninety days. 3.90% of the stock is owned by company insiders.
Snap-On Stock Performance
NYSE:SNA opened at $321.98 on Wednesday. The stock's 50-day moving average is $318.87 and its 200-day moving average is $326.63. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The stock has a market cap of $16.79 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. Snap-On Incorporated has a 1-year low of $267.00 and a 1-year high of $373.89.
Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.07 earnings per share. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.
About Snap-On
(
Free Report)
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.
Further Reading
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