LPL Financial LLC Raises Stake in Snap-On Incorporated (NYSE:SNA)

Key Points

• LPL Financial LLC increased its stake in Snap-On Incorporated by 2.4%, owning a total of 75,537 shares worth approximately $25.5 million as of its latest SEC filing.
• Snap-On reported $4.72 EPS for the last quarter, surpassing analysts' expectations, and demonstrated a 20.98% net margin, indicating robust profitability.
• Analysts have a generally positive outlook on Snap-On, with an average rating of "Moderate Buy" and a consensus target price of $356.17.

LPL Financial LLC raised its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,537 shares of the company's stock after buying an additional 1,773 shares during the quarter. LPL Financial LLC owned about 0.14% of Snap-On worth $25,457,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Choreo LLC increased its stake in 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 buying an additional 3,170 shares during the period. Ethic Inc. raised its stake in shares of Snap-On by 18.6% in the fourth quarter. Ethic Inc. now owns 9,212 shares of the company's stock valued at $3,127,000 after acquiring an additional 1,445 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in Snap-On in the first quarter valued at $218,000. OneDigital Investment Advisors LLC increased its holdings in Snap-On by 26.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock worth $292,000 after purchasing an additional 181 shares during the period. Finally, Vontobel Holding Ltd. boosted its stake in shares of Snap-On by 27.4% in the 1st quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after buying an additional 2,932 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Stock Performance

SNA stock traded up $1.12 on Wednesday, hitting $323.19. The company's stock had a trading volume of 235,505 shares, compared to its average volume of 391,034. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. The firm has a 50 day moving average of $318.87 and a two-hundred day moving average of $326.63. 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.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion for 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 firm's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.07 EPS. Equities analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the 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 completion of the transaction, the chief executive officer owned 804,510 shares in the company, valued at $254,104,483.50. This trade represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock valued at $9,482,532 in the last three months. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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