Palo Capital Inc. Buys 117 Shares of Snap-On Incorporated (NYSE:SNA)
Palo Capital Inc. raised its position in shares of Snap-On Incorporated (NYSE:SNA) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,726 shares of the company’s stock after buying an additional 117 shares during the period. Palo Capital Inc.’s holdings in Snap-On were worth $1,537,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Adirondack Trust Co. increased its position in shares of Snap-On by 2.5% in the first quarter. Adirondack Trust Co. now owns 624 shares of the company’s stock worth $105,000 after buying an additional 15 shares in the last quarter. TrimTabs Asset Management LLC increased its position in shares of Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock worth $112,000 after buying an additional 312 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock worth $143,000 after buying an additional 59 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Snap-On by 13.8% in the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock worth $160,000 after buying an additional 119 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in shares of Snap-On by 28.7% in the first quarter. Global X Management Co. LLC now owns 1,064 shares of the company’s stock worth $179,000 after buying an additional 237 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.
Snap-On Incorporated (SNA) traded up 2.11% on Monday, reaching $159.02. The company’s stock had a trading volume of 931,206 shares. The stock’s 50 day moving average is $160.62 and its 200-day moving average is $168.42. The firm has a market capitalization of $9.22 billion, a PE ratio of 16.86 and a beta of 1.06. Snap-On Incorporated has a 52 week low of $145.17 and a 52 week high of $181.73.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 20th. The company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.05. Snap-On had a return on equity of 20.94% and a net margin of 16.07%. The business had revenue of $887.10 million for the quarter, compared to the consensus estimate of $877.30 million. During the same period last year, the business earned $2.16 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts predict that Snap-On Incorporated will post $10.09 EPS for the current year.
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A number of brokerages recently commented on SNA. FBR & Co reissued an “outperform” rating and issued a $205.00 price target on shares of Snap-On in a report on Tuesday, July 11th. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 target price on shares of Snap-On in a report on Thursday, July 6th. Zacks Investment Research downgraded Snap-On from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. assumed coverage on Snap-On in a report on Tuesday, April 11th. They set an “outperform” rating and a $200.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Snap-On 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 Snap-On stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $176.54, for a total transaction of $2,199,511.86. Following the sale, the vice president now directly owns 10,486 shares of the company’s stock, valued at $1,851,198.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas J. Ward sold 42,000 shares of Snap-On stock in a transaction that occurred on Monday, April 24th. The shares were 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 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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