Cetera Investment Advisers Invests $461,000 in Snap-On Incorporated (SNA)
Cetera Investment Advisers acquired a new stake in Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,902 shares of the company’s stock, valued at approximately $461,000.
Several other institutional investors also recently bought and sold shares of the company. Colony Group LLC bought a new position in shares of Snap-On in the second quarter valued at approximately $1,387,000. Koch Industries Inc. boosted its holdings in shares of Snap-On by 64,484.7% in the second quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock valued at $912,000 after acquiring an additional 916,327 shares in the last quarter. Robecosam AG boosted its holdings in shares of Snap-On by 80.5% in the second quarter. Robecosam AG now owns 2,200 shares of the company’s stock valued at $344,000 after acquiring an additional 981 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Snap-On by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,411 shares of the company’s stock valued at $222,000 after acquiring an additional 23 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its holdings in shares of Snap-On by 142.5% in the second quarter. Nomura Holdings Inc. now owns 9,929 shares of the company’s stock valued at $1,567,000 after acquiring an additional 5,835 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Snap-On from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a report on Thursday, July 6th. FBR & Co reiterated an “outperform” rating and issued a $205.00 price objective on shares of Snap-On in a report on Tuesday, July 11th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $197.00 price objective on shares of Snap-On in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $197.00.
Shares of Snap-On Incorporated (NYSE SNA) traded down 2.18% during mid-day trading on Thursday, reaching $150.18. 254,403 shares of the company were exchanged. Snap-On Incorporated has a 12 month low of $140.83 and a 12 month high of $181.73. The firm has a 50-day moving average price of $148.85 and a 200 day moving average price of $156.38. The stock has a market capitalization of $8.65 billion, a P/E ratio of 15.55 and a beta of 1.05.
Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 19th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.42 by $0.03. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company had revenue of $903.80 million during the quarter, compared to analysts’ expectations of $889.22 million. During the same quarter in the previous year, the company earned $2.22 EPS. Snap-On’s revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.
Snap-On announced that its Board of Directors has approved a stock repurchase program on Monday, August 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, VP Iain Boyd sold 18,418 shares of Snap-On stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $147.54, for a total transaction of $2,717,391.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ruth Ann M. Gillis purchased 265 shares of the stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is owned by insiders.
Snap-On Company Profile
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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