Bokf Na Increases Stock Position in Snap-on Incorporated (NYSE:SNA)

Bokf Na lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,088 shares of the company’s stock after purchasing an additional 285 shares during the period. Bokf Na’s holdings in Snap-on were worth $2,383,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Confluence Investment Management LLC bought a new position in shares of Snap-on during the 1st quarter worth approximately $173,451,000. Norges Bank bought a new position in shares of Snap-on during the 4th quarter worth approximately $145,665,000. Mawer Investment Management Ltd. bought a new position in shares of Snap-on during the 1st quarter worth approximately $55,954,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 acquiring an additional 137,920 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Snap-on by 31,080.3% during the 4th quarter. International Assets Investment Management LLC now owns 74,521 shares of the company’s stock valued at $21,525,000 after purchasing an additional 74,282 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE:SNA traded up $7.19 during midday trading on Friday, reaching $280.66. The company’s stock had a trading volume of 258,932 shares, compared to its average volume of 348,910. The firm has a market capitalization of $14.79 billion, a PE ratio of 14.73, a P/E/G ratio of 1.94 and a beta of 0.98. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The stock has a fifty day moving average of $267.66 and a 200 day moving average of $277.22. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion for 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 business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.89 earnings per share. On average, equities analysts expect that Snap-on Incorporated will post 18.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at $200,276,888.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,632 shares of company stock valued at $10,353,409. Corporate insiders own 4.10% of the company’s stock.

About Snap-on

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.