Zurcher Kantonalbank Zurich Cantonalbank Has $27.07 Million Holdings in Snap-On Incorporated (NYSE:SNA)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Snap-On Incorporated by 20.8% in the first quarter, owning roughly $27.07 million worth of shares by the end of that period.
• Snap-On reported an earnings per share (EPS) of $4.72 for the last quarter, surpassing the analyst consensus estimate by $0.11, with revenues up compared to the previous year.
• Institutional investors and hedge funds currently control around 84.88% of Snap-On's stock, reflecting strong interest in the company and various increases in holdings by multiple investors in recent quarters.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,336 shares of the company's stock after buying an additional 13,844 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.15% of Snap-On worth $27,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Alpine Bank Wealth Management bought a new position in shares of Snap-On in the first quarter worth about $25,000. Golden State Wealth Management LLC grew its position in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after buying an additional 72 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Snap-On during the first quarter worth about $35,000. Finally, ORG Partners LLC boosted its holdings in 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 purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Trading Down 1.7%

Shares of Snap-On stock traded down $5.47 on Friday, hitting $315.72. 130,795 shares of the company's stock traded hands, compared to its average volume of 392,021. The firm's 50-day moving average price is $319.00 and its two-hundred day moving average price is $327.28. The stock has a market capitalization of $16.47 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76. Snap-On Incorporated has a one year low of $266.56 and a one 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.

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. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the company posted $5.07 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares in the company, valued at $254,104,483.50. This represents a 2.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 of the company's stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock worth $9,482,532 in the last quarter. Corporate insiders own 3.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on SNA. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Bank of America boosted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Finally, Robert W. Baird boosted their price objective 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. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.