Mawer Investment Management Ltd. Has $235.57 Million Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Key Points

• Mawer Investment Management Ltd. has reduced its holdings in Snap-On Inc. by 3.4% during the first quarter, now owning 698,991 shares worth approximately $235.57 million.
• CEO Nicholas T. Pinchuk and Director Karen L. Daniel sold a combined total of 24,262 shares of Snap-On stock recently, reflecting a 2.80% and 11.95% decrease in their respective positions.
• Analysts have set new price targets for Snap-On, with Longbow Research upgrading the stock to a "buy" rating and a target price of $400.00, while Bank of America maintained an "underperform" rating with a target of $285.00.

Mawer Investment Management Ltd. cut its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 698,991 shares of the company's stock after selling 24,920 shares during the quarter. Snap-On accounts for 1.1% of Mawer Investment Management Ltd.'s portfolio, making the stock its 25th largest position. Mawer Investment Management Ltd. owned about 1.34% of Snap-On worth $235,567,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Snap-On in the 1st quarter worth $25,000. Golden State Wealth Management LLC grew its holdings in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after buying an additional 72 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Snap-On during the first quarter valued at $35,000. Finally, ORG Partners LLC grew its holdings in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after buying an additional 95 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,030 shares in the company, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. 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 Stock Performance

Shares of NYSE SNA traded down $4.42 during trading hours on Friday, hitting $316.77. 174,032 shares of the company's stock were exchanged, compared to its average volume of 392,304. Snap-On Incorporated has a 1-year low of $266.56 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 2.24 and a beta of 0.76. The company's 50-day moving average price is $319.00 and its 200-day moving average price is $327.28.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $5.07 earnings per share. The company's quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SNA shares. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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 research report on Friday, July 18th. Bank of America lifted their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Finally, Barrington Research reissued an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. One 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 presently has a consensus rating of "Moderate Buy" and an average target price of $356.17.

About Snap-On

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.