Riverbridge Partners LLC decreased its position in Snap-on Incorporated (NYSE:SNA) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 274,360 shares of the company’s stock after selling 33,597 shares during the quarter. Riverbridge Partners LLC owned about 0.49% of Snap-on worth $39,862,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SNA. JLB & Associates Inc. lifted its holdings in shares of Snap-on by 8.2% during the fourth quarter. JLB & Associates Inc. now owns 2,259 shares of the company’s stock worth $328,000 after buying an additional 171 shares during the last quarter. Fenimore Asset Management Inc. raised its stake in shares of Snap-on by 19.7% in the fourth quarter. Fenimore Asset Management Inc. now owns 313,904 shares of the company’s stock valued at $45,607,000 after purchasing an additional 51,735 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Snap-on by 6.9% in the fourth quarter. State of Alaska Department of Revenue now owns 23,894 shares of the company’s stock valued at $3,469,000 after purchasing an additional 1,551 shares in the last quarter. Carnegie Capital Asset Management LLC raised its stake in shares of Snap-on by 10.6% in the third quarter. Carnegie Capital Asset Management LLC now owns 2,560 shares of the company’s stock valued at $427,000 after purchasing an additional 245 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in shares of Snap-on by 11,813.7% in the third quarter. Federated Investors Inc. PA now owns 333,225 shares of the company’s stock valued at $61,180,000 after purchasing an additional 330,428 shares in the last quarter.
Several research analysts have issued reports on the company. Barrington Research reiterated a “buy” rating and set a $196.00 price objective on shares of Snap-on in a research note on Tuesday, October 16th. Zacks Investment Research upgraded Snap-on from a “hold” rating to a “buy” rating and set a $208.00 price objective for the company in a research note on Thursday, October 4th. Robert W. Baird dropped their price objective on Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Bank of America assumed coverage on Snap-on in a research note on Friday, December 21st. They set a “buy” rating and a $165.00 price objective for the company. Finally, TheStreet lowered Snap-on from a “b” rating to a “c+” rating in a research note on Wednesday, December 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $190.33.
In other news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $140.80, for a total transaction of $3,158,566.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by corporate insiders.
Shares of SNA stock traded up $2.38 during trading hours on Monday, hitting $162.71. 19,130 shares of the company’s stock were exchanged, compared to its average volume of 823,612. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.59 and a current ratio of 2.31. The stock has a market capitalization of $8.78 billion, a PE ratio of 16.08, a PEG ratio of 1.24 and a beta of 1.32. Snap-on Incorporated has a 52 week low of $135.29 and a 52 week high of $189.46.
Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 18th. The company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.86 by $0.02. The company had revenue of $898.10 million for the quarter, compared to analysts’ expectations of $928.73 million. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.45 earnings per share. As a group, analysts forecast that Snap-on Incorporated will post 11.83 earnings per share for the current fiscal year.
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Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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