Kestra Private Wealth Services LLC decreased its holdings in Snap-On Incorporated (NYSE:SNA – Free Report) by 34.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,906 shares of the company’s stock after selling 2,601 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Snap-On were worth $1,782,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Western Wealth Management LLC purchased a new stake in shares of Snap-On during the 1st quarter worth $29,000. Independence Bank of Kentucky acquired a new position in shares of Snap-On during the 3rd quarter worth $29,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Snap-On in the 2nd quarter valued at about $45,000. Elevation Wealth Partners LLC increased its holdings in shares of Snap-On by 773.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 131 shares of the company’s stock valued at $53,000 after purchasing an additional 116 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Snap-On in the third quarter valued at about $53,000. Institutional investors and hedge funds own 84.88% of the company’s stock.
Snap-On Trading Down 0.6%
NYSE:SNA opened at $366.39 on Friday. Snap-On Incorporated has a 52-week low of $320.80 and a 52-week high of $423.02. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $369.34 and a 200-day simple moving average of $380.24. The company has a market capitalization of $18.90 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.
Snap-On (NYSE:SNA – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 20.82% and a return on equity of 16.77%. Snap-On’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $4.71 earnings per share. On average, equities research analysts expect that Snap-On Incorporated will post 19.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Barclays decreased their price objective on shares of Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Roth Capital reaffirmed a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Robert W. Baird set a $385.00 target price on shares of Snap-On in a report on Friday, October 23rd. Tigress Financial lifted their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $434.00.
Get Our Latest Research Report on SNA
Insider Buying and Selling at Snap-On
In other Snap-On news, VP Marty V. Ozolins sold 800 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total value of $320,000.00. Following the sale, the vice president owned 1,526 shares of the company’s stock, valued at $610,400. This represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas Pinchuk sold 22,889 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the completion of the sale, the chief executive officer owned 867,779 shares in the company, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,220 shares of company stock valued at $11,704,411 over the last quarter. Corporate insiders own 3.80% of the company’s stock.
Snap-On Company Profile
Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.
Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.
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