Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Snap-on Incorporated (NYSE:SNA) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,089 shares of the company’s stock after purchasing an additional 6,441 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Snap-on were worth $4,722,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. HBW Advisory Services LLC purchased a new position in Snap-on during the first quarter worth approximately $28,000. Capital Square LLC purchased a new position in shares of Snap-on in the 1st quarter worth $34,000. Bartlett & Co. LLC acquired a new position in Snap-on in the first quarter valued at $44,000. Creative Financial Designs Inc. ADV purchased a new stake in Snap-on during the second quarter valued at about $47,000. Finally, Parallel Advisors LLC increased its stake in Snap-on by 183.0% during the first quarter. Parallel Advisors LLC now owns 450 shares of the company’s stock worth $48,000 after acquiring an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.
SNA has been the subject of a number of research reports. Tigress Financial reiterated a “buy” rating on shares of Snap-on in a report on Thursday, May 7th. ValuEngine upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Barrington Research reissued a “buy” rating and issued a $175.00 price objective on shares of Snap-on in a research report on Friday. Finally, TheStreet upgraded shares of Snap-on from a “c” rating to a “b-” rating in a report on Monday, June 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Snap-on presently has an average rating of “Hold” and a consensus price target of $167.00.
In related news, CEO Nicholas T. Pinchuk sold 28,628 shares of Snap-on stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $135.05, for a total transaction of $3,866,211.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by company insiders.
Shares of NYSE:SNA opened at $145.87 on Friday. The business’s 50-day simple moving average is $136.82 and its 200 day simple moving average is $136.37. The company has a market cap of $7.93 billion, a P/E ratio of 12.41, a PEG ratio of 1.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.50. Snap-on Incorporated has a one year low of $90.72 and a one year high of $172.61.
Snap-on (NYSE:SNA) last issued its quarterly earnings data on Friday, July 31st. The company reported $1.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by ($0.03). The firm had revenue of $724.30 million during the quarter, compared to analyst estimates of $704.97 million. Snap-on had a net margin of 17.83% and a return on equity of 19.64%. The firm’s revenue was down 23.9% compared to the same quarter last year. During the same period last year, the business earned $3.22 EPS. Analysts predict that Snap-on Incorporated will post 9.13 earnings per share for the current year.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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