Assenagon Asset Management S.A. raised its position in shares of Snap-on Incorporated (NYSE:SNA) by 172.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,969 shares of the company’s stock after acquiring an additional 18,952 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Snap-on worth $5,502,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barings LLC bought a new position in shares of Snap-on during the 3rd quarter worth about $2,028,000. North Point Portfolio Managers Corp OH boosted its position in shares of Snap-on by 0.8% during the 3rd quarter. North Point Portfolio Managers Corp OH now owns 68,300 shares of the company’s stock worth $12,540,000 after purchasing an additional 571 shares in the last quarter. Waratah Capital Advisors Ltd. bought a new position in shares of Snap-on during the 3rd quarter worth about $3,522,000. Russell Investments Group Ltd. boosted its position in shares of Snap-on by 51.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 54,964 shares of the company’s stock worth $10,099,000 after purchasing an additional 18,675 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Snap-on by 325.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 52,762 shares of the company’s stock worth $9,688,000 after purchasing an additional 40,353 shares in the last quarter.
SNA opened at $157.26 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.30. Snap-on Incorporated has a fifty-two week low of $141.63 and a fifty-two week high of $189.46. The stock has a market capitalization of $8.47 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.15.
Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.02. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The company had revenue of $898.10 million for the quarter, compared to analyst estimates of $928.73 million. During the same quarter in the prior year, the business posted $2.45 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Equities analysts forecast that Snap-on Incorporated will post 11.8 EPS for the current fiscal year.
In related news, Chairman Nicholas T. Pinchuk sold 21,624 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $169.79, for a total value of $3,671,538.96. Following the sale, the chairman now owns 443,955 shares in the company, valued at approximately $75,379,119.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Aldo John Pagliari sold 6,480 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $177.89, for a total transaction of $1,152,727.20. The disclosure for this sale can be found here. Insiders sold a total of 32,395 shares of company stock worth $5,553,865 in the last 90 days. 4.00% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on SNA. Barrington Research reissued a “buy” rating on shares of Snap-on in a research report on Monday, July 16th. Zacks Investment Research raised shares of Snap-on from a “sell” rating to a “hold” rating and set a $192.00 price objective on the stock in a research report on Monday, July 23rd. B. Riley set a $205.00 price objective on shares of Snap-on and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Robert W. Baird cut their price objective on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Finally, Northcoast Research cut shares of Snap-on from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Snap-on currently has an average rating of “Hold” and a consensus target price of $192.00.
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.
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