Snap-On Incorporated $SNA Stock Position Trimmed by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Snap-On stake by 15.2% in the third quarter, selling 33,903 shares and retaining 188,778 shares valued at about $68.6 million.
• Snap-On’s latest quarter fell short of expectations: earnings were $4.64 per share versus a $4.93 consensus, while revenue of $1.18 billion also missed estimates and declined 0.6% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $434; four analysts rate the stock Buy and one rates it Hold.

Boston Trust Walden Corp reduced its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 188,778 shares of the company's stock after selling 33,903 shares during the quarter. Boston Trust Walden Corp owned about 0.37% of Snap-On worth $68,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. North Dakota State Investment Board lifted its position in shares of Snap-On by 1.8% during the 3rd quarter. North Dakota State Investment Board now owns 1,552 shares of the company's stock valued at $564,000 after acquiring an additional 28 shares during the period. Childress Capital Advisors LLC increased its position in Snap-On by 3.1% during the 3rd quarter. Childress Capital Advisors LLC now owns 1,217 shares of the company's stock worth $442,000 after purchasing an additional 37 shares in the last quarter. CX Institutional boosted its holdings in shares of Snap-On by 10.6% during the 2nd quarter. CX Institutional now owns 447 shares of the company's stock valued at $180,000 after acquiring an additional 43 shares in the last quarter. Ascentis Independent Advisors grew its holdings in shares of Snap-On by 2.5% during the first quarter. Ascentis Independent Advisors now owns 1,859 shares of the company's stock worth $675,000 after purchasing an additional 46 shares during the last quarter. Finally, Sovran Advisors LLC increased its holdings in Snap-On by 6.7% in the first quarter. Sovran Advisors LLC now owns 752 shares of the company's stock valued at $288,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Insiders Place Their Bets

In other news, CFO Aldo Pagliari sold 5,531 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the sale, the chief financial officer owned 120,644 shares in the company, valued at approximately $48,770,337. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total transaction of $320,000.00. Following the completion of the sale, the vice president directly owned 1,526 shares in the company, valued at $610,400. This represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 29,220 shares of company stock worth $11,704,411. 3.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SNA shares. Barclays lowered their price objective on shares of Snap-On from $435.00 to $405.00 and set an "overweight" rating for the company in a research note on Monday, October 26th. Robert W. Baird set a $385.00 target price on shares of Snap-On in a research note on Friday, October 23rd. Tigress Financial lifted their target price on shares of Snap-On from $445.00 to $485.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Roth Capital restated a "buy" rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Weiss Ratings lowered Snap-On from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $434.00.

Snap-On Stock Up 2.1%

Shares of NYSE:SNA opened at $369.68 on Thursday. Snap-On Incorporated has a 52-week low of $320.80 and a 52-week high of $423.02. The firm has a market capitalization of $19.07 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.58 and a beta of 0.75. The stock has a 50 day moving average price of $369.96 and a 200-day moving average price of $380.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.71 and a current ratio of 3.55.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing the consensus estimate of $4.93 by ($0.29). Snap-On had a net margin of 20.82% and a return on equity of 16.77%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm earned $4.71 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap-On Incorporated will post 19.24 EPS for the current fiscal year.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.

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