Snap-on Incorporated (NYSE:SNA) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,683 shares of the company’s stock after selling 265 shares during the period. Advisors Asset Management Inc.’s holdings in Snap-on were worth $4,646,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SNA. Pacer Advisors Inc. grew its holdings in Snap-on by 37.2% during the 4th quarter. Pacer Advisors Inc. now owns 4,698 shares of the company’s stock valued at $1,357,000 after purchasing an additional 1,274 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Snap-on by 175.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 22,195 shares of the company’s stock valued at $6,411,000 after purchasing an additional 14,138 shares in the last quarter. Steel Grove Capital Advisors LLC bought a new position in Snap-on during the 4th quarter valued at $219,000. Trueblood Wealth Management LLC bought a new position in Snap-on during the 4th quarter valued at $914,000. Finally, Blue Trust Inc. boosted its stake in Snap-on by 9.9% during the 4th quarter. Blue Trust Inc. now owns 2,476 shares of the company’s stock valued at $715,000 after acquiring an additional 224 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the completion of the sale, the senior vice president now owns 252 shares of the company’s stock, valued at $66,822.84. The disclosure for this sale can be found here. Insiders sold 38,632 shares of company stock worth $10,353,409 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SNA shares. Robert W. Baird reduced their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Thursday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $315.00.

Snap-on Stock Up 2.6 %

Shares of SNA stock traded up $7.19 during trading on Friday, hitting $280.66. 258,932 shares of the company were exchanged, compared to its average volume of 348,910. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.89 and a beta of 0.98. The business’s 50-day simple moving average is $267.66 and its 200 day simple moving average is $277.22. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $4.89 earnings per share. As a group, analysts forecast that Snap-on Incorporated will post 18.97 EPS for the current fiscal year.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.