Twin Capital Management Inc. Sells 4,365 Shares of Snap-On Incorporated $SNA

Twin Capital Management Inc. reduced its position in shares of Snap-On Incorporated (NYSE:SNA) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,865 shares of the company’s stock after selling 4,365 shares during the period. Twin Capital Management Inc.’s holdings in Snap-On were worth $3,070,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SNA. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snap-On in the second quarter worth $434,938,000. Auto Owners Insurance Co raised its position in Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock worth $361,612,000 after acquiring an additional 1,070,025 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Snap-On by 54.3% in the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock valued at $229,793,000 after acquiring an additional 239,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Snap-On in the 2nd quarter valued at about $56,595,000. Finally, Nuveen LLC bought a new position in shares of Snap-On in the 1st quarter valued at about $45,711,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Tigress Financial raised their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Roth Capital restated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Finally, Bank of America lifted 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. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Stock Up 1.3%

SNA stock opened at $343.13 on Thursday. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The stock has a market capitalization of $17.85 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.33 and a beta of 0.81. The business’s fifty day moving average price is $336.67 and its two-hundred day moving average price is $325.51.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted $4.70 earnings per share. Snap-On’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by corporate insiders.

Snap-On 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.