4,543 Shares in Snap-On Incorporated (NYSE:SNA) Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP acquired 4,543 shares of Snap-On Incorporated, valued at approximately $1.53 million.
• Snap-On CEO Nicholas T. Pinchuk sold 23,172 shares at an average price of $315.85, reducing his ownership by 2.80%.
• Snap-On reported a quarterly EPS of $4.72, beating analysts' estimates, with revenue of $1.18 billion, representing a year-over-year increase.

GSA Capital Partners LLP purchased a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,543 shares of the company's stock, valued at approximately $1,531,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Auto Owners Insurance Co grew its holdings in 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 acquiring an additional 1,070,025 shares in the last quarter. GAMMA Investing LLC grew its holdings in Snap-On by 65,113.6% during the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock worth $236,919,000 after acquiring an additional 701,925 shares in the last quarter. Norges Bank acquired a new position in Snap-On during the 4th quarter worth $145,342,000. First Trust Advisors LP grew its holdings in Snap-On by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after acquiring an additional 411,317 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Snap-On by 22.4% during the 4th quarter. Northern Trust Corp now owns 798,254 shares of the company's stock worth $270,991,000 after acquiring an additional 145,861 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Trading Down 1.1%

Shares of SNA stock traded down $3.63 during trading hours on Friday, reaching $317.56. 339,782 shares of the stock traded hands, compared to its average volume of 393,530. Snap-On Incorporated has a 1-year low of $266.56 and a 1-year high of $373.89. The business has a fifty day moving average price of $319.00 and a 200 day moving average price of $327.28. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $16.56 billion, a PE ratio of 16.94, a PEG ratio of 2.24 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating 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 the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $5.07 earnings per share. The firm's revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director directly owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction 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. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock valued at $9,482,532 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

Snap-On Company 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.