Baader Bank Aktiengesellschaft Acquires New Shares in Snap-On Incorporated (NYSE:SNA)

Key Points

• Baader Bank Aktiengesellschaft acquired a new position in Snap-On Inc., purchasing 1,243 shares valued at approximately $419,000 during the 1st quarter.
• Institutional investors hold a significant majority of Snap-On's shares, owning 84.88% of the company, with several funds increasing their stakes in recent months.
• Snap-On reported $4.72 earnings per share for its latest quarter, exceeding analysts' expectations, with a revenue of $1.18 billion.

Baader Bank Aktiengesellschaft purchased a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,243 shares of the company's stock, valued at approximately $419,000.

Several other large investors have also made changes to their positions in the company. Bayforest Capital Ltd bought a new stake in Snap-On during the first quarter worth approximately $136,000. Vestcor Inc boosted its position in Snap-On by 169.6% during the first quarter. Vestcor Inc now owns 4,052 shares of the company's stock worth $1,366,000 after purchasing an additional 2,549 shares during the period. GSA Capital Partners LLP bought a new stake in Snap-On during the first quarter worth approximately $1,531,000. Federated Hermes Inc. boosted its position in Snap-On by 63.7% during the first quarter. Federated Hermes Inc. now owns 28,628 shares of the company's stock worth $9,648,000 after purchasing an additional 11,136 shares during the period. Finally, Cozad Asset Management Inc. boosted its position in Snap-On by 4.7% during the first quarter. Cozad Asset Management Inc. now owns 8,151 shares of the company's stock worth $2,747,000 after purchasing an additional 367 shares during the period. Institutional investors own 84.88% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SNA. Bank of America upped their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Robert W. Baird upped their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $356.17.

Snap-On Stock Performance

Shares of NYSE SNA traded down $3.63 during trading hours on Friday, reaching $317.56. The stock had a trading volume of 339,782 shares, compared to its average volume of 352,810. The business's fifty day moving average is $318.96 and its two-hundred day moving average is $327.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The company has a market cap of $16.56 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.24 and a beta of 0.76. Snap-On Incorporated has a twelve month low of $266.56 and a twelve month high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The business's revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $5.07 earnings per share. As a group, research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Insider Buying and Selling at Snap-On

In other news, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction on 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 sale, the director owned 8,030 shares in the company, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares in the company, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is currently owned by company insiders.

Snap-On 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.