LSV Asset Management Decreases Holdings in Snap-On Incorporated (NYSE:SNA)

Key Points

• LSV Asset Management reduced its holdings in Snap-On by 6.2%, selling 31,327 shares, and owns 0.91% of the company, valued at $159.76 million.
• Multiple analysts upgraded Snap-On's stock rating, with price targets reaching as high as $356.17, and the consensus rating being a "Moderate Buy."
• Insider sales included CEO Nicholas T. Pinchuk, who sold 23,172 shares valued at over $7.3 million, indicating notable insider trading activity.

LSV Asset Management reduced its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 6.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 474,047 shares of the company's stock after selling 31,327 shares during the period. LSV Asset Management owned about 0.91% of Snap-On worth $159,759,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNA. Auto Owners Insurance Co lifted its holdings in shares of Snap-On by 35,967.2% in the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock valued at $361,612,000 after buying an additional 1,070,025 shares during the period. GAMMA Investing LLC lifted its holdings in Snap-On by 65,113.6% in the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock valued at $236,919,000 after acquiring an additional 701,925 shares during the period. First Trust Advisors LP boosted its position in Snap-On by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after purchasing an additional 411,317 shares in the last quarter. Northern Trust Corp grew its stake in shares of 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 purchasing an additional 145,861 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Snap-On during the 4th quarter valued at approximately $36,403,000. Institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. 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 report on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Robert W. Baird increased their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $356.17.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction that occurred 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 transaction, the chief executive officer owned 804,510 shares of the company's stock, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly 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 worth $9,482,532 in the last 90 days. Corporate insiders own 3.90% of the company's stock.

Snap-On Trading Up 0.3%

NYSE:SNA traded up $0.93 on Monday, hitting $318.72. The stock had a trading volume of 352,310 shares, compared to its average volume of 369,799. The company has a fifty day moving average price of $318.94 and a two-hundred day moving average price of $326.66. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.21 and a beta of 0.76. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 1-year low of $266.56 and a 1-year 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 (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 analyst estimates of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.07 EPS. Equities research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

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.