Mackenzie Financial Corp Raises Holdings in Snap-On Incorporated (NYSE:SNA)

Mackenzie Financial Corp lifted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 66.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,211 shares of the company's stock after purchasing an additional 4,092 shares during the quarter. Mackenzie Financial Corp's holdings in Snap-On were worth $3,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC lifted its holdings in Snap-On by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after purchasing an additional 33 shares in the last quarter. Canandaigua National Trust Co of Florida raised its position in shares of Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock worth $241,000 after purchasing an additional 37 shares during the last quarter. Advisors Capital Management LLC lifted its stake in Snap-On by 3.4% in the 4th quarter. Advisors Capital Management LLC now owns 1,178 shares of the company's stock valued at $400,000 after buying an additional 39 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Snap-On by 1.3% in the 4th quarter. CreativeOne Wealth LLC now owns 3,073 shares of the company's stock valued at $1,043,000 after buying an additional 40 shares in the last quarter. Finally, Norinchukin Bank The boosted its holdings in Snap-On by 2.5% in the 4th quarter. Norinchukin Bank The now owns 2,066 shares of the company's stock worth $701,000 after buying an additional 50 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNA shares. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Robert W. Baird boosted their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Bank of America lifted 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $356.17.

Insider Activity at Snap-On

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of Snap-On 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 completion of the sale, the director directly owned 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were 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 directly owned 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,815 shares of company stock worth $9,482,532. Company insiders own 3.90% of the company's stock.

Snap-On Price Performance

NYSE:SNA opened at $317.56 on Friday. Snap-On Incorporated has a one year low of $266.56 and a one year high of $373.89. The stock has a market cap of $16.56 billion, a PE ratio of 16.94, a P/E/G ratio of 2.21 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 has a 50 day moving average price of $318.96 and a 200 day moving average price of $327.00.

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

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