Mullooly Asset Management Inc. Invests $538,000 in Snap-On Incorporated (NYSE:SNA)

Key Points

• Mullooly Asset Management Inc. acquired 1,596 shares of Snap-On Incorporated, valued at approximately $538,000, making it the firm's 28th largest holding.
• Several other hedge funds, including Wellington Management and AllianceBernstein, also increased their stakes in Snap-On during the fourth quarter, reflecting a growing institutional interest.
• Snap-On's recent performance includes quarterly earnings of $4.72 per share, surpassing expectations, with analysts anticipating a full-year EPS of 19.79.

Mullooly Asset Management Inc. acquired a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,596 shares of the company's stock, valued at approximately $538,000. Snap-On makes up 0.0% of Mullooly Asset Management Inc.'s investment portfolio, making the stock its 28th biggest position.

Other large investors have also recently modified their holdings of the company. Choreo LLC boosted its position in shares of Snap-On by 78.3% during the first quarter. Choreo LLC now owns 7,218 shares of the company's stock valued at $2,432,000 after purchasing an additional 3,170 shares in the last quarter. Ethic Inc. increased its stake in shares of Snap-On by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock worth $3,127,000 after acquiring an additional 1,445 shares in the last quarter. Geode Capital Management LLC lifted its position in Snap-On by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after acquiring an additional 27,700 shares during the period. DAVENPORT & Co LLC bought a new stake in Snap-On during the first quarter worth about $218,000. Finally, OneDigital Investment Advisors LLC grew its holdings in Snap-On by 26.4% in the first 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. Institutional investors own 84.88% of the company's stock.

Snap-On Stock Performance

Shares of NYSE SNA traded up $0.93 during trading on Monday, reaching $318.72. 352,310 shares of the company traded hands, compared to its average volume of 369,799. The firm has a 50 day simple moving average of $318.94 and a 200-day simple moving average of $326.66. Snap-On Incorporated has a 52-week low of $266.56 and a 52-week high of $373.89. The stock has a market capitalization of $16.62 billion, a PE ratio of 17.00, a P/E/G 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 (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion for 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 firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $5.07 earnings per share. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 804,510 shares in the company, valued at $254,104,483.50. The trade was a 2.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director owned 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. 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. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Robert W. Baird upped 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. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Snap-On has a consensus rating of "Moderate Buy" and an average price target of $356.17.

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.