Arizona State Retirement System lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,515 shares of the company’s stock after selling 426 shares during the period. Arizona State Retirement System owned approximately 0.07% of Snap-on worth $7,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in Snap-on in the 2nd quarter valued at approximately $107,000. Flagship Harbor Advisors LLC acquired a new stake in Snap-on in the 2nd quarter valued at approximately $117,000. Legacy Advisors LLC acquired a new stake in Snap-on in the 3rd quarter valued at approximately $127,000. Conning Inc. acquired a new stake in Snap-on in the 2nd quarter valued at approximately $207,000. Finally, Aureus Asset Management LLC acquired a new stake in Snap-on in the 2nd quarter valued at approximately $214,000.
Several analysts recently weighed in on SNA shares. Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Thursday, October 4th. B. Riley set a $205.00 target price on shares of Snap-on and gave the company a “buy” rating in a report on Tuesday, July 17th. Robert W. Baird dropped their target price on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Northcoast Research downgraded shares of Snap-on from a “buy” rating to a “neutral” rating in a report on Tuesday, July 24th. Finally, Barrington Research reiterated a “buy” rating and issued a $196.00 target price on shares of Snap-on in a report on Tuesday, October 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $195.40.
NYSE:SNA opened at $157.26 on Monday. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.31 and a quick ratio of 1.59. Snap-on Incorporated has a 52 week low of $141.63 and a 52 week high of $189.46.
Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 18th. The company reported $2.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.02. The business had revenue of $898.10 million during the quarter, compared to the consensus estimate of $928.73 million. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.45 earnings per share. On average, sell-side analysts anticipate that Snap-on Incorporated will post 11.8 earnings per share for the current fiscal year.
In other Snap-on news, Chairman Nicholas T. Pinchuk sold 21,624 shares of the business’s stock in a transaction on 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 completion of the transaction, the chairman now owns 443,955 shares in the company, valued at $75,379,119.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Aldo John Pagliari sold 6,480 shares of the business’s stock in a transaction on 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. In the last 90 days, insiders sold 32,395 shares of company stock valued at $5,553,865. Insiders own 4.00% of the company’s stock.
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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