Castellan Group Acquires 8,614 Shares of Snap-On Incorporated (NYSE:SNA)

Key Points

• Castellan Group increased its stake in Snap-On Incorporated by 110.9%, owning a total of 16,378 shares valued at approximately $5.5 million after purchasing an additional 8,614 shares.
• Other significant investors like Auto Owners Insurance Co and GAMMA Investing LLC made dramatic increases in their holdings, with Auto Owners boosting its stake by over 35,967%.
• Snap-On's latest earnings report showed an EPS of $4.72, surpassing analyst estimates, while the stock opened at $321.19 and has a market cap of $16.75 billion.

Castellan Group raised its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 110.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,378 shares of the company's stock after purchasing an additional 8,614 shares during the quarter. Snap-On accounts for 1.5% of Castellan Group's portfolio, making the stock its 25th largest holding. Castellan Group's holdings in Snap-On were worth $5,520,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Auto Owners Insurance Co increased its position in shares of Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock worth $361,612,000 after purchasing an additional 1,070,025 shares in the last quarter. GAMMA Investing LLC grew its stake in Snap-On by 65,113.6% during the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock worth $236,919,000 after buying an additional 701,925 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Snap-On by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after buying an additional 411,317 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Snap-On by 22.4% during the fourth quarter. Northern Trust Corp now owns 798,254 shares of the company's stock worth $270,991,000 after buying an additional 145,861 shares in the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Snap-On in the fourth quarter valued at approximately $36,403,000. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Down 0.3%

NYSE:SNA opened at $321.19 on Friday. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.24 and a beta of 0.76. 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 stock's fifty day moving average price is $319.00 and its two-hundred day moving average price is $327.28. Snap-On Incorporated has a 52-week low of $266.56 and a 52-week high of $373.89.

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

Insiders Place Their Bets

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the transaction, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm'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 completion of the transaction, the chief executive officer directly owned 804,510 shares in the company, valued at $254,104,483.50. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In 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 insiders.

Analysts Set New Price Targets

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

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.

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