DNB Asset Management AS boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 14.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,787 shares of the company’s stock after acquiring an additional 1,655 shares during the quarter. DNB Asset Management AS’s holdings in Snap-on were worth $2,002,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in Snap-on by 1.6% in the second quarter. Vanguard Group Inc. now owns 6,104,323 shares of the company’s stock worth $1,011,120,000 after acquiring an additional 96,196 shares in the last quarter. Bank of America Corp DE raised its holdings in Snap-on by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 3,487,031 shares of the company’s stock worth $577,591,000 after buying an additional 392,665 shares during the period. Northern Trust Corp raised its holdings in Snap-on by 1.5% during the 2nd quarter. Northern Trust Corp now owns 1,130,372 shares of the company’s stock worth $187,234,000 after buying an additional 16,808 shares during the period. FMR LLC raised its holdings in Snap-on by 2.1% during the 1st quarter. FMR LLC now owns 884,058 shares of the company’s stock worth $138,372,000 after buying an additional 18,291 shares during the period. Finally, Investec Asset Management LTD raised its holdings in Snap-on by 16.5% during the 2nd quarter. Investec Asset Management LTD now owns 703,954 shares of the company’s stock worth $116,603,000 after buying an additional 99,944 shares during the period.

NYSE SNA opened at $157.52 on Monday. The stock’s 50-day moving average price is $154.79 and its two-hundred day moving average price is $157.93. The company has a current ratio of 2.37, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. The company has a market cap of $8.59 billion, a PE ratio of 13.34, a PEG ratio of 1.50 and a beta of 1.25. Snap-on Incorporated has a 1 year low of $135.29 and a 1 year high of $174.00.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, October 17th. The company reported $2.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.94 by $0.02. Snap-on had a return on equity of 21.16% and a net margin of 18.72%. The company had revenue of $901.80 million for the quarter, compared to analysts’ expectations of $909.23 million. During the same quarter in the previous year, the business posted $2.88 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. Research analysts forecast that Snap-on Incorporated will post 12.26 EPS for the current fiscal year.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 19,675 shares of Snap-on stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $155.46, for a total transaction of $3,058,675.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.90% of the company’s stock.

Several analysts have issued reports on the company. Longbow Research restated a “hold” rating on shares of Snap-on in a report on Monday, July 1st. Zacks Investment Research downgraded Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price objective on the stock. in a report on Tuesday, July 16th. Tigress Financial restated a “buy” rating on shares of Snap-on in a report on Wednesday, July 24th. Barrington Research restated a “buy” rating and set a $185.00 price objective on shares of Snap-on in a report on Thursday. Finally, ValuEngine downgraded Snap-on from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $173.60.

Snap-on Profile

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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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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