Janney Montgomery Scott LLC raised its stake in Snap-on Incorporated (NYSE:SNA) by 12.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,161 shares of the company’s stock after buying an additional 3,236 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Snap-on were worth $4,382,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Snap-on by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 602,529 shares of the company’s stock valued at $96,838,000 after acquiring an additional 15,123 shares during the last quarter. Atria Investments LLC increased its stake in Snap-on by 25.7% during the 3rd quarter. Atria Investments LLC now owns 6,257 shares of the company’s stock worth $1,149,000 after buying an additional 1,278 shares during the period. State of Alaska Department of Revenue increased its stake in Snap-on by 18.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,343 shares of the company’s stock worth $4,100,000 after buying an additional 3,518 shares during the period. First Hawaiian Bank purchased a new stake in Snap-on during the 3rd quarter worth $401,000. Finally, Andra AP fonden increased its stake in Snap-on by 41.1% during the 3rd quarter. Andra AP fonden now owns 37,400 shares of the company’s stock worth $6,867,000 after buying an additional 10,900 shares during the period.
SNA has been the topic of several analyst reports. TheStreet raised shares of Snap-on from a “c+” rating to a “b-” rating in a research note on Friday, January 11th. Barrington Research reaffirmed a “buy” rating and set a $196.00 price target on shares of Snap-on in a research note on Tuesday, October 16th. Robert W. Baird dropped their price target on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Bank of America began coverage on shares of Snap-on in a research report on Friday, December 21st. They issued a “buy” rating and a $165.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Snap-on from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $190.33.
In other news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the business’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $140.80, for a total value of $3,158,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.
SNA opened at $153.08 on Monday. The stock has a market capitalization of $8.52 billion, a PE ratio of 12.96, a P/E/G ratio of 1.21 and a beta of 1.34. Snap-on Incorporated has a 1-year low of $135.29 and a 1-year high of $189.46. The company has a quick ratio of 1.62, a current ratio of 2.33 and a debt-to-equity ratio of 0.30.
Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.03. The company had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.74 million. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.69 EPS. On average, equities analysts expect that Snap-on Incorporated will post 12.39 EPS for the current year.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
Featured Story: How are Outstanding Shares Different from Authorized Shares?
Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA).
Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.