National Asset Management Inc. lowered its holdings in Snap-on Incorporated (NYSE:SNA – Get Rating) by 34.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,593 shares of the company’s stock after selling 833 shares during the quarter. National Asset Management Inc.’s holdings in Snap-on were worth $328,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNA. Cyrus J. Lawrence LLC bought a new stake in Snap-on in the first quarter valued at about $27,000. Lumature Wealth Partners LLC boosted its position in Snap-on by 63.4% in the fourth quarter. Lumature Wealth Partners LLC now owns 152 shares of the company’s stock valued at $33,000 after buying an additional 59 shares in the last quarter. Bromfield Sneider Wealth Advisors acquired a new position in Snap-on in the first quarter valued at about $38,000. Signaturefd LLC boosted its position in Snap-on by 27.5% in the fourth quarter. Signaturefd LLC now owns 241 shares of the company’s stock valued at $52,000 after buying an additional 52 shares in the last quarter. Finally, Tobam boosted its position in Snap-on by 40.8% in the first quarter. Tobam now owns 259 shares of the company’s stock valued at $53,000 after buying an additional 75 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.
Insider Activity at Snap-on
In related news, CEO Nicholas T. Pinchuk sold 19,394 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $216.58, for a total value of $4,200,352.52. Following the transaction, the chief executive officer now directly owns 622,123 shares in the company, valued at $134,739,399.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by company insiders.
Snap-on Trading Up 1.1 %
Shares of NYSE SNA opened at $224.05 on Friday. The company’s 50 day simple moving average is $207.77 and its 200 day simple moving average is $210.82. Snap-on Incorporated has a fifty-two week low of $190.08 and a fifty-two week high of $235.36. The firm has a market capitalization of $11.93 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.37.
Snap-on (NYSE:SNA – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $4.27 earnings per share for the quarter, beating the consensus estimate of $3.91 by $0.36. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $3.76 earnings per share. Snap-on’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Snap-on Incorporated will post 15.93 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on SNA. Tigress Financial boosted their price target on shares of Snap-on from $295.00 to $298.00 and gave the company a “buy” rating in a research report on Monday, April 25th. MKM Partners initiated coverage on shares of Snap-on in a research report on Thursday, June 9th. They set a “neutral” rating and a $238.00 target price on the stock. Finally, UBS Group reduced their target price on shares of Snap-on to $175.00 in a research report on Friday, July 22nd.
About Snap-on
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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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