Cetera Investment Advisers purchased a new stake in Snap-On Incorporated (NYSE:SNA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,902 shares of the company’s stock, valued at approximately $461,000.
Other institutional investors also recently modified their holdings of the company. Royce & Associates LP increased its holdings in shares of Snap-On by 7.4% in the second quarter. Royce & Associates LP now owns 36,500 shares of the company’s stock valued at $5,767,000 after purchasing an additional 2,500 shares in the last quarter. Blair William & Co. IL boosted its stake in Snap-On by 6.5% in the second quarter. Blair William & Co. IL now owns 38,580 shares of the company’s stock valued at $6,096,000 after acquiring an additional 2,366 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Snap-On by 20.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,930 shares of the company’s stock valued at $2,359,000 after acquiring an additional 2,561 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Snap-On by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 257,225 shares of the company’s stock valued at $40,642,000 after acquiring an additional 9,614 shares during the last quarter. Finally, KBC Group NV boosted its stake in Snap-On by 5.2% in the second quarter. KBC Group NV now owns 62,268 shares of the company’s stock valued at $9,838,000 after acquiring an additional 3,060 shares during the last quarter. 93.10% of the stock is owned by institutional investors and hedge funds.
Shares of Snap-On Incorporated (NYSE SNA) traded down 0.64% during midday trading on Friday, reaching $158.45. 1,060,813 shares of the company’s stock traded hands. Snap-On Incorporated has a 52-week low of $140.83 and a 52-week high of $181.73. The firm has a market cap of $9.12 billion, a PE ratio of 16.40 and a beta of 1.05. The company has a 50 day moving average of $150.72 and a 200 day moving average of $156.22.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. The company had revenue of $903.80 million during the quarter, compared to analyst estimates of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 earnings per share. On average, equities analysts predict that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.
Snap-On announced that its board has initiated a share buyback plan on Monday, August 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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A number of equities analysts have issued reports on the stock. Barrington Research raised shares of Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price objective on the stock in a research note on Monday, October 23rd. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and set a $175.00 price target on shares of Snap-On in a research report on Thursday, July 6th. Finally, FBR & Co reissued an “outperform” rating and set a $205.00 price target on shares of Snap-On in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $192.00.
In other Snap-On news, Director Ruth Ann M. Gillis bought 265 shares of Snap-On stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $152.58 per share, for a total transaction of $40,433.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by corporate insiders.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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