Snap-On Incorporated (NYSE:SNA) Shares Purchased by Auto Owners Insurance Co

Auto Owners Insurance Co raised its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 35,967.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073,000 shares of the company's stock after buying an additional 1,070,025 shares during the period. Snap-On accounts for approximately 6.8% of Auto Owners Insurance Co's portfolio, making the stock its 3rd biggest holding. Auto Owners Insurance Co owned 2.05% of Snap-On worth $361,612,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Choreo LLC increased its stake in shares of Snap-On by 78.3% in the first quarter. Choreo LLC now owns 7,218 shares of the company's stock worth $2,432,000 after purchasing an additional 3,170 shares during the period. Ethic Inc. grew its position in Snap-On by 18.6% during the fourth quarter. Ethic Inc. now owns 9,212 shares of the company's stock worth $3,127,000 after buying an additional 1,445 shares in the last quarter. Geode Capital Management LLC grew its position in Snap-On by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after buying an additional 27,700 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Snap-On during the first quarter worth about $218,000. Finally, OneDigital Investment Advisors LLC grew its position in Snap-On by 26.4% during the first quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock worth $292,000 after buying an additional 181 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SNA shares. Robert W. Baird lifted their price objective on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Longbow Research upgraded shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Monday, March 31st. Finally, Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $356.17.

Snap-On Trading Down 0.1%

SNA stock traded down $0.22 during trading on Friday, hitting $330.11. The company had a trading volume of 246,280 shares, compared to its average volume of 396,747. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $319.16 and a 200-day moving average price of $327.66. Snap-On Incorporated has a 12 month low of $266.56 and a 12 month high of $373.89. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 2.30 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating the consensus estimate of $4.61 by $0.11. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.07 EPS. As a group, analysts predict 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, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction on 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 owned 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the transaction, the chief financial officer directly owned 109,560 shares of the company's stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,815 shares of company stock worth $9,482,532. Insiders own 3.90% of the company's stock.

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.