Jefferies Financial Group Inc. Increases Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Key Points

• Jefferies Financial Group Inc. increased its stake in Snap-On Incorporated by 532.2%, owning 15,659 shares valued at approximately $5.27 million after an additional purchase of 13,182 shares in the first quarter.
• Snap-On reported earnings of $4.72 per share for the last quarter, exceeding analysts' expectations by $0.11, with total revenues of $1.18 billion.
• Several institutional investors have also increased their holdings in Snap-On, with 84.88% of the stock currently owned by hedge funds and other institutional investors.

Jefferies Financial Group Inc. raised its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 532.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,659 shares of the company's stock after purchasing an additional 13,182 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Snap-On were worth $5,277,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SNA. Choreo LLC lifted its position in shares of Snap-On by 78.3% during the 1st quarter. Choreo LLC now owns 7,218 shares of the company's stock worth $2,432,000 after purchasing an additional 3,170 shares during the last quarter. Ethic Inc. raised its holdings in Snap-On by 18.6% during the fourth quarter. Ethic Inc. now owns 9,212 shares of the company's stock worth $3,127,000 after purchasing an additional 1,445 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Snap-On by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after buying an additional 27,700 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Snap-On in the first quarter valued at $218,000. Finally, OneDigital Investment Advisors LLC boosted its stake in Snap-On by 26.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock worth $292,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Ratings Changes

SNA has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, 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. One research 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.com, Snap-On has an average rating of "Moderate Buy" and an average target price of $356.17.

Snap-On Stock Performance

NYSE SNA traded up $0.93 during trading on Monday, reaching $318.72. The company's stock had a trading volume of 352,310 shares, compared to its average volume of 369,799. The firm has a 50 day moving average price of $318.94 and a 200 day moving average price of $326.66. The firm has a market capitalization of $16.62 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.21 and a beta of 0.76. 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 12 month low of $266.56 and a 12 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 for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $5.07 earnings per share. Snap-On's revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director owned 8,030 shares of the company's stock, 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 document filed with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the transaction, the chief executive officer directly owned 804,510 shares of the company's stock, valued at $254,104,483.50. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock worth $9,482,532 in the last quarter. Insiders own 3.90% of the company's stock.

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.