Snap-on Incorporated (NYSE:SNA) Position Boosted by SRN Advisors LLC

SRN Advisors LLC grew its position in shares of Snap-on Incorporated (NYSE:SNA) by 36.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,520 shares of the company’s stock after buying an additional 1,740 shares during the quarter. Snap-on makes up about 1.5% of SRN Advisors LLC’s investment portfolio, making the stock its 10th largest holding. SRN Advisors LLC’s holdings in Snap-on were worth $1,931,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. DekaBank Deutsche Girozentrale raised its holdings in Snap-on by 2.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 419,446 shares of the company’s stock worth $124,146,000 after acquiring an additional 11,517 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Snap-on by 41.4% in the 1st quarter. Cetera Advisors LLC now owns 10,311 shares of the company’s stock worth $3,054,000 after purchasing an additional 3,018 shares during the period. Cetera Investment Advisers raised its holdings in Snap-on by 548.7% during the 1st quarter. Cetera Investment Advisers now owns 45,023 shares of the company’s stock valued at $13,337,000 after acquiring an additional 38,083 shares during the period. Atria Investments Inc grew its position in shares of Snap-on by 55.6% during the 1st quarter. Atria Investments Inc now owns 6,604 shares of the company’s stock valued at $1,956,000 after purchasing an additional 2,359 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Snap-on during the first quarter valued at about $14,968,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SNA shares. Robert W. Baird cut their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Tigress Financial reiterated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Trading Down 0.8 %

SNA stock traded down $2.24 during trading on Friday, reaching $276.74. 250,543 shares of the stock were exchanged, compared to its average volume of 345,860. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $268.37 and a 200-day moving average price of $277.17. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The firm has a market capitalization of $14.58 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.93 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. Snap-on’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.89 EPS. On average, research analysts predict that Snap-on Incorporated will post 18.97 earnings per share for the current year.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,632 shares of company stock worth $10,353,409. Corporate insiders own 4.10% of the company’s stock.

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.