Exxonmobil Investment Management Inc. TX Has $1.76 Million Stake in Snap-On Incorporated (SNA)
Exxonmobil Investment Management Inc. TX cut its stake in Snap-On Incorporated (NYSE:SNA) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,126 shares of the company’s stock after selling 1,747 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Snap-On were worth $1,758,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of SNA. Gulf International Bank UK Ltd raised its stake in shares of Snap-On by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 17,947 shares of the company’s stock valued at $3,027,000 after buying an additional 150 shares in the last quarter. Creative Planning raised its stake in shares of Snap-On by 5.9% in the first quarter. Creative Planning now owns 5,345 shares of the company’s stock valued at $902,000 after buying an additional 300 shares in the last quarter. New England Research & Management Inc. bought a new stake in shares of Snap-On during the first quarter valued at $769,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of Snap-On by 3.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 50,200 shares of the company’s stock valued at $8,467,000 after buying an additional 1,690 shares in the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in shares of Snap-On by 14.2% in the first quarter. Integrated Investment Consultants LLC now owns 2,780 shares of the company’s stock valued at $469,000 after buying an additional 345 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.
Snap-On Incorporated (NYSE:SNA) opened at 157.71 on Thursday. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 16.72 and a beta of 1.06. The stock’s 50 day moving average price is $157.23 and its 200-day moving average price is $166.78. Snap-On Incorporated has a one year low of $145.17 and a one year high of $181.73.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 20th. The company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.05. The company had revenue of $887.10 million for the quarter, compared to analyst estimates of $877.30 million. Snap-On had a return on equity of 20.94% and a net margin of 16.07%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 earnings per share. On average, equities research analysts anticipate that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.
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Several brokerages have weighed in on SNA. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 target price (up from $165.00) on shares of Snap-On in a research report on Sunday, April 23rd. CIBC reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Snap-On in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. began coverage on Snap-On in a research report on Tuesday, April 11th. They issued an “outperform” rating and a $200.00 target price on the stock. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $198.00.
In other Snap-On news, VP Jeanne M. Moreno sold 12,459 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $176.54, for a total value of $2,199,511.86. Following the transaction, the vice president now owns 10,486 shares of the company’s stock, valued at $1,851,198.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Thomas J. Ward sold 42,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
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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