Snap-On Incorporated (SNA) Stake Increased by Eqis Capital Management Inc.

Eqis Capital Management Inc. lifted its position in shares of Snap-On Incorporated (NYSE:SNA) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,083 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Eqis Capital Management Inc.’s holdings in Snap-On were worth $1,651,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Snap-On by 2,077.9% in the first quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock valued at $613,657,000 after purchasing an additional 3,471,155 shares during the last quarter. Koch Industries Inc. increased its holdings in Snap-On by 64,484.7% in the second quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock valued at $912,000 after purchasing an additional 916,327 shares during the last quarter. Boston Partners bought a new stake in Snap-On in the second quarter valued at about $100,171,000. Schroder Investment Management Group increased its holdings in Snap-On by 59.2% in the second quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock valued at $177,850,000 after purchasing an additional 422,366 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Snap-On by 1,814.9% in the second quarter. Renaissance Technologies LLC now owns 436,600 shares of the company’s stock valued at $68,983,000 after purchasing an additional 413,800 shares during the last quarter. Institutional investors own 93.10% of the company’s stock.

Shares of Snap-On Incorporated (SNA) traded down 0.64% during trading on Friday, hitting $158.45. The stock had a trading volume of 1,060,813 shares. The company’s 50 day moving average price is $150.72 and its 200 day moving average price is $156.22. Snap-On Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 16.40 and a beta of 1.05.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The company had revenue of $903.80 million for the quarter, compared to analysts’ expectations of $889.22 million. During the same quarter last year, the company posted $2.22 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts predict that Snap-On Incorporated will post $10.09 earnings per share for the current year.

Snap-On declared that its Board of Directors has authorized a stock buyback program on Monday, August 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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A number of equities research analysts recently commented on SNA shares. FBR & Co set a $205.00 price objective on Snap-On and gave the company a “buy” rating in a report on Friday, July 21st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $177.00 price objective on shares of Snap-On in a research report on Thursday, October 19th. Zacks Investment Research raised 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, Longbow Research cut Snap-On from a “buy” rating to a “neutral” rating in a research report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $192.00.

In other Snap-On news, Director Ruth Ann M. Gillis purchased 265 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $152.58 per share, for a total transaction of $40,433.70. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

About Snap-On

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.

Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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