Bank of Nova Scotia Sells 1,539 Shares of Snap-On Incorporated (NYSE:SNA)

Bank of Nova Scotia decreased its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,474 shares of the company's stock after selling 1,539 shares during the quarter. Bank of Nova Scotia's holdings in Snap-On were worth $1,845,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Snap-On by 0.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 29,805 shares of the company's stock worth $10,045,000 after purchasing an additional 110 shares during the last quarter. IFG Advisory LLC lifted its position in Snap-On by 1.1% during the 1st quarter. IFG Advisory LLC now owns 19,441 shares of the company's stock worth $6,552,000 after buying an additional 209 shares in the last quarter. Asset Planning Inc lifted its position in Snap-On by 405.0% during the 1st quarter. Asset Planning Inc now owns 1,010 shares of the company's stock worth $340,000 after buying an additional 810 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in Snap-On during the 1st quarter worth about $538,000. Finally, Baker Avenue Asset Management LP acquired a new position in Snap-On during the 1st quarter worth about $250,000. Institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer directly owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares of the company's stock, 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. Insiders sold a total of 29,815 shares of company stock valued at $9,482,532 in the last ninety days. 3.90% of the stock is owned by insiders.

Snap-On Stock Performance

Snap-On stock opened at $323.19 on Thursday. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 1 year low of $267.00 and a 1 year high of $373.89. The company has a market cap of $16.86 billion, a PE ratio of 17.24, a PEG ratio of 2.24 and a beta of 0.76. The company's 50-day moving average is $318.93 and its two-hundred day moving average is $326.61.

Snap-On (NYSE:SNA - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.07 EPS. Equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

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.

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Incorporated (NYSE:SNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.