Koch Industries Inc. Has $912,000 Holdings in Snap-On Incorporated (SNA)

Koch Industries Inc. raised its holdings in Snap-On Incorporated (NYSE:SNA) by 64,484.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 917,748 shares of the company’s stock after acquiring an additional 916,327 shares during the period. Koch Industries Inc. owned 1.59% of Snap-On worth $912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Royce & Associates LP raised its holdings in Snap-On by 7.4% in the 2nd quarter. Royce & Associates LP now owns 36,500 shares of the company’s stock valued at $5,767,000 after acquiring an additional 2,500 shares during the last quarter. Blair William & Co. IL raised its holdings in Snap-On by 6.5% in the 2nd quarter. Blair William & Co. IL now owns 38,580 shares of the company’s stock valued at $6,096,000 after acquiring an additional 2,366 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Snap-On by 20.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,930 shares of the company’s stock valued at $2,359,000 after acquiring an additional 2,561 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Snap-On by 3.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 257,225 shares of the company’s stock valued at $40,642,000 after acquiring an additional 9,614 shares during the last quarter. Finally, KBC Group NV raised its holdings in Snap-On by 5.2% in the 2nd quarter. KBC Group NV now owns 62,268 shares of the company’s stock valued at $9,838,000 after acquiring an additional 3,060 shares during the last quarter. Institutional investors own 93.14% of the company’s stock.

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Shares of Snap-On Incorporated (NYSE:SNA) traded up 0.37% during mid-day trading on Friday, hitting $152.17. 184,816 shares of the stock traded hands. The stock has a 50-day moving average of $147.94 and a 200-day moving average of $156.89. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 15.75 and a beta of 1.05. Snap-On Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company had revenue of $921.40 million during the quarter, compared to the consensus estimate of $920.87 million. During the same quarter in the prior year, the firm earned $2.36 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post $10.09 EPS for the current year.

Snap-On declared that its board has authorized a share repurchase plan on Monday, August 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

In other Snap-On news, VP Iain Boyd sold 18,418 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ruth Ann M. Gillis bought 265 shares of the business’s stock in a transaction on Friday, August 4th. The stock was bought 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 corporate insiders.

SNA has been the subject of several analyst reports. BidaskClub downgraded Snap-On from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Longbow Research downgraded Snap-On from a “buy” rating to a “neutral” rating in a report on Monday, August 21st. Zacks Investment Research downgraded Snap-On from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Robert W. Baird reissued an “outperform” rating and set a $197.00 price objective on shares of Snap-On in a research note on Wednesday, August 2nd. Finally, FBR & Co reissued an “outperform” rating and set a $205.00 price objective on shares of Snap-On in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Snap-On currently has an average rating of “Hold” and an average price target of $197.00.

About Snap-On

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.

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

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