SRN Advisors LLC Has $1.93 Million Position in Snap-on Incorporated (NYSE:SNA)

SRN Advisors LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 36.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,520 shares of the company’s stock after acquiring an additional 1,740 shares during the period. Snap-on accounts for 1.5% of SRN Advisors LLC’s portfolio, making the stock its 10th largest holding. SRN Advisors LLC’s holdings in Snap-on were worth $1,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Confluence Investment Management LLC bought a new position in shares of Snap-on during the first quarter worth $173,451,000. Norges Bank bought a new stake in Snap-on during the 4th quarter worth about $145,665,000. Mawer Investment Management Ltd. bought a new stake in Snap-on during the 1st quarter worth about $55,954,000. Benjamin F. Edwards & Company Inc. lifted its position in Snap-on by 1,416.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after buying an additional 137,920 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in Snap-on by 9.9% during the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock worth $275,399,000 after buying an additional 83,686 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $2.24 during trading on Friday, hitting $276.74. The company’s stock had a trading volume of 250,543 shares, compared to its average volume of 345,860. The company has a 50-day moving average of $268.37 and a 200-day moving average of $277.17. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $298.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.93 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $4.89 EPS. On average, sell-side analysts expect that Snap-on Incorporated will post 18.97 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Snap-on news, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the transaction, the senior vice president now owns 252 shares in the company, valued at approximately $66,822.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. Insiders sold a total of 38,632 shares of company stock valued at $10,353,409 over the last three months. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird cut their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $315.00.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.