Snap-On Incorporated (SNA) Shares Bought by Triangle Securities Wealth Management
Triangle Securities Wealth Management boosted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,510 shares of the company’s stock after buying an additional 100 shares during the period. Triangle Securities Wealth Management’s holdings in Snap-On were worth $239,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SNA. BlackRock Inc. raised its position in shares of 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 buying an additional 3,471,155 shares in the last quarter. Norges Bank purchased a new position in shares of Snap-On during the fourth quarter valued at approximately $92,024,000. Alliancebernstein L.P. raised its position in shares of Snap-On by 428.7% in the first quarter. Alliancebernstein L.P. now owns 547,616 shares of the company’s stock valued at $92,366,000 after buying an additional 444,039 shares in the last quarter. Findlay Park Partners LLP purchased a new position in shares of Snap-On during the first quarter valued at approximately $73,371,000. Finally, Schroder Investment Management Group raised its position in shares of Snap-On by 148.4% in the first quarter. Schroder Investment Management Group now owns 713,988 shares of the company’s stock valued at $120,172,000 after buying an additional 426,521 shares in the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.
Shares of Snap-On Incorporated (NYSE:SNA) traded up 0.95% during midday trading on Friday, reaching $155.74. The company’s stock had a trading volume of 645,954 shares. Snap-On Incorporated has a 12-month low of $145.17 and a 12-month high of $181.73. The stock’s 50-day moving average price is $160.62 and its 200-day moving average price is $168.42. The company has a market cap of $9.02 billion, a P/E ratio of 16.52 and a beta of 1.06.
Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 20th. The company reported $2.39 EPS for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.05. Snap-On had a return on equity of 20.94% and a net margin of 16.07%. The company had revenue of $887.10 million during the quarter, compared to the consensus estimate of $877.30 million. During the same period in the previous year, the firm posted $2.16 earnings per share. Snap-On’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts expect that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.
Several equities analysts have recently commented on SNA shares. CIBC restated an “outperform” rating and set a $200.00 price target on shares of Snap-On in a research note on Wednesday, April 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price objective (up previously from $165.00) on shares of Snap-On in a research report on Sunday, April 23rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Snap-On in a research report on Thursday, June 1st. Zacks Investment Research downgraded Snap-On from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, BidaskClub downgraded Snap-On from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $198.00.
In other Snap-On news, SVP Thomas J. Ward sold 42,000 shares of Snap-On stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $174.88, for a total value of $7,344,960.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeanne M. Moreno sold 12,459 shares of Snap-On stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $176.54, for a total value of $2,199,511.86. Following the completion of the transaction, the vice president now owns 10,486 shares of the company’s stock, valued at $1,851,198.44. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
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.
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