Royce & Associates LP Boosts Stake in Snap-On Incorporated (NYSE:SNA)

Key Points

• Royce & Associates LP has increased its stake in Snap-On Incorporated by 18.8%, owning 9,500 shares valued at approximately $3.20 million.
• Snap-On recently reported earnings of $4.72 per share, surpassing analysts' expectations, and had a net margin of 20.98%.
• Institutional investors hold approximately 84.88% of Snap-On's stock, with notable increases in stakes from several firms during the last quarter.

Royce & Associates LP lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 18.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,500 shares of the company's stock after purchasing an additional 1,500 shares during the period. Royce & Associates LP's holdings in Snap-On were worth $3,202,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. TrinityPoint Wealth LLC lifted its position in shares of Snap-On by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after acquiring an additional 33 shares during the period. Centric Wealth Management raised its holdings in shares of Snap-On by 0.4% during the fourth quarter. Centric Wealth Management now owns 8,440 shares of the company's stock valued at $2,865,000 after purchasing an additional 36 shares during the period. Canandaigua National Trust Co of Florida raised its holdings in shares of Snap-On by 5.4% during the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after purchasing an additional 37 shares during the period. Advisors Capital Management LLC raised its stake in Snap-On by 3.4% during the 4th quarter. Advisors Capital Management LLC now owns 1,178 shares of the company's stock worth $400,000 after buying an additional 39 shares during the period. Finally, CreativeOne Wealth LLC raised its position in shares of Snap-On by 1.3% during the fourth quarter. CreativeOne Wealth LLC now owns 3,073 shares of the company's stock worth $1,043,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Bank of America raised their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $356.17.

Snap-On Stock Performance

SNA traded up $1.05 during trading hours on Thursday, hitting $323.32. The stock had a trading volume of 37,108 shares, compared to its average volume of 391,705. The company's fifty day simple moving average is $318.99 and its 200 day simple moving average is $327.44. Snap-On Incorporated has a 1 year low of $266.56 and a 1 year high of $373.89. The stock has a market cap of $16.86 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.26 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 posted its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company's revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned $5.07 earnings per share. Equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction dated 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 transaction, the chief financial officer directly owned 109,560 shares of the company's stock, 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. Over the last three months, insiders sold 29,815 shares of company stock worth $9,482,532. 3.90% of the stock is owned by corporate insiders.

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.