New Age Alpha Advisors LLC Grows Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Key Points

• New Age Alpha Advisors LLC increased its stake in Snap-On Incorporated by 36.6% during the first quarter, owning a total of 11,389 shares valued at approximately $3.84 million.
• Insider activity shows significant sales, with Director Karen L. Daniel selling 1,090 shares and CFO Aldo John Pagliari selling 5,553 shares recently, indicating potential changes in confidence among company leadership.
• Snap-On's recent quarterly earnings exceeded expectations, reporting $4.72 EPS against consensus estimates of $4.61, with revenue rising to $1.18 billion.

New Age Alpha Advisors LLC raised its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 36.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,389 shares of the company's stock after acquiring an additional 3,050 shares during the period. New Age Alpha Advisors LLC's holdings in Snap-On were worth $3,838,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of SNA. Choreo LLC grew its holdings 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 acquiring an additional 3,170 shares in the last quarter. Ethic Inc. grew its holdings in Snap-On by 18.6% during 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. DAVENPORT & Co LLC purchased a new stake in shares of Snap-On during the first quarter valued at about $218,000. OneDigital Investment Advisors LLC lifted its position in shares of Snap-On by 26.4% during the first quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock valued at $292,000 after buying an additional 181 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Snap-On by 27.4% during the first 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 last quarter. Institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-On

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction 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 transaction, the chief financial officer owned 109,560 shares in the company, valued at $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 quarter, insiders have sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is owned by company insiders.

Snap-On Price Performance

Shares of NYSE SNA opened at $321.98 on Wednesday. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.22 and a beta of 0.76. Snap-On Incorporated has a 12 month low of $267.00 and a 12 month high of $373.89. The firm's 50 day simple moving average is $318.87 and its 200-day simple moving average is $326.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

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

Analyst Ratings Changes

Several research firms have commented on SNA. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. 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 research report on Friday, July 18th. 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $356.17.

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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