Snap-On Incorporated (NYSE:SNA) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its holdings in Snap-On by 3.6%, now owning 23,391 shares worth approximately $7.88 million.
• In the first quarter, institutional investors increased their stake in Snap-On, with notable increases from HB Wealth Management LLC (73.3%) and Cetera Investment Advisers (8.8%).
• Snap-On recently reported earnings of $4.72 per share, exceeding estimates, with a revenue of $1.18 billion, marking a year-over-year growth.

TD Asset Management Inc trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,391 shares of the company's stock after selling 864 shares during the quarter. TD Asset Management Inc's holdings in Snap-On were worth $7,883,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. HB Wealth Management LLC increased its holdings in Snap-On by 73.3% during the 1st quarter. HB Wealth Management LLC now owns 1,489 shares of the company's stock worth $502,000 after purchasing an additional 630 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Snap-On by 2.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 24,557 shares of the company's stock worth $8,269,000 after buying an additional 500 shares during the last quarter. Assetmark Inc. increased its stake in shares of Snap-On by 2.0% in the first quarter. Assetmark Inc. now owns 139,241 shares of the company's stock worth $46,926,000 after buying an additional 2,769 shares during the last quarter. Cetera Investment Advisers raised its holdings in Snap-On by 8.8% in the first quarter. Cetera Investment Advisers now owns 48,685 shares of the company's stock valued at $16,407,000 after acquiring an additional 3,921 shares in the last quarter. Finally, Tempus Wealth Planning LLC boosted its stake in Snap-On by 4.1% during the 1st quarter. Tempus Wealth Planning LLC now owns 2,452 shares of the company's stock valued at $826,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is currently owned by company insiders.

Snap-On Stock Performance

Shares of SNA stock opened at $321.19 on Friday. The company has a market cap of $16.75 billion, a P/E ratio of 17.13, a PEG ratio of 2.24 and a beta of 0.76. The business has a 50 day moving average of $319.00 and a two-hundred day moving average of $327.28. Snap-On Incorporated has a 52 week low of $266.56 and a 52 week high of $373.89. 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 announced its quarterly 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The business's revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $5.07 EPS. As a group, analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Wall Street Analyst Weigh In

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