Snap-On Incorporated (NYSE:SNA) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. increased its holdings in Snap-On Incorporated by 2.0% during the first quarter, now owning approximately 0.27% of the company valued at $46.93 million.
• Analysts have mixed ratings on Snap-On, with six analysts giving it a "buy" rating and a consensus price target of $356.17.
• CEO Nicholas T. Pinchuk sold 23,172 shares at an average price of $315.85 in June, which was a 2.80% decrease in his ownership of the stock.

Assetmark Inc. raised its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,241 shares of the company's stock after acquiring an additional 2,769 shares during the quarter. Assetmark Inc. owned approximately 0.27% of Snap-On worth $46,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNA. Cetera Investment Advisers grew its position in Snap-On by 8.8% in the first quarter. Cetera Investment Advisers now owns 48,685 shares of the company's stock worth $16,407,000 after acquiring an additional 3,921 shares during the period. Tempus Wealth Planning LLC lifted its holdings in Snap-On by 4.1% during the 1st quarter. Tempus Wealth Planning LLC now owns 2,452 shares of the company's stock worth $826,000 after buying an additional 97 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Snap-On by 18.8% in the 1st quarter. Royce & Associates LP now owns 9,500 shares of the company's stock valued at $3,202,000 after purchasing an additional 1,500 shares during the last quarter. Journey Strategic Wealth LLC increased its position in Snap-On by 80.5% in the 1st quarter. Journey Strategic Wealth LLC now owns 2,126 shares of the company's stock valued at $717,000 after acquiring an additional 948 shares during the period. Finally, AE Wealth Management LLC increased its position in Snap-On by 6.0% in the 1st quarter. AE Wealth Management LLC now owns 1,090 shares of the company's stock valued at $368,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the transaction, the chief financial officer owned 109,560 shares of the company's stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director directly owned 8,030 shares in the company, valued at $2,568,957.60. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock valued at $9,482,532 over the last quarter. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SNA shares. Barrington Research reiterated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. Bank of America increased their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Robert W. Baird upped their price objective on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $356.17.

Snap-On Stock Down 0.1%

Shares of SNA stock traded down $0.22 during trading hours on Friday, hitting $330.11. 259,831 shares of the company were exchanged, compared to its average volume of 369,944. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The business's 50-day simple moving average is $319.13 and its two-hundred day simple moving average is $327.56. Snap-On Incorporated has a one year low of $266.56 and a one year high of $373.89. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 2.30 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the company posted $5.07 earnings per share. Snap-On's revenue was up .0% on a year-over-year basis. Sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

About Snap-On

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.