Artemis Investment Management LLP increased its stake in Snap-On Incorporated (NYSE:SNA) by 39.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,390 shares of the company’s stock after buying an additional 24,842 shares during the period. Artemis Investment Management LLP’s holdings in Snap-On were worth $15,141,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the company. Cadence Capital Management LLC increased its stake in Snap-On by 7.5% in the fourth quarter. Cadence Capital Management LLC now owns 1,726 shares of the company’s stock worth $296,000 after buying an additional 120 shares during the period. Ffcm LLC acquired a new stake in Snap-On during the fourth quarter worth about $219,000. Russell Investments Group Ltd. acquired a new stake in Snap-On during the fourth quarter worth about $31,907,000. Cornercap Investment Counsel Inc. increased its stake in Snap-On by 10.6% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 20,270 shares of the company’s stock worth $3,472,000 after buying an additional 1,940 shares during the period. Finally, NN Investment Partners Holdings N.V. increased its stake in Snap-On by 494.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 119,917 shares of the company’s stock worth $20,538,000 after buying an additional 99,729 shares during the period. Hedge funds and other institutional investors own 88.60% of the company’s stock.
Snap-On Incorporated (NYSE:SNA) traded down 0.45% during trading on Wednesday, hitting $166.07. 159,391 shares of the company traded hands. The stock has a 50-day moving average price of $174.52 and a 200-day moving average price of $161.45. The firm has a market capitalization of $9.63 billion, a P/E ratio of 18.05 and a beta of 1.06. Snap-On Incorporated has a 12-month low of $135.91 and a 12-month high of $181.73.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.06. The firm had revenue of $889.80 million for the quarter, compared to analysts’ expectations of $884.09 million. Snap-On had a return on equity of 20.89% and a net margin of 15.93%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 EPS. Equities analysts expect that Snap-On Incorporated will post $10.07 EPS for the current fiscal year.
SNA has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a report on Tuesday. Wunderlich lifted their price objective on shares of Snap-On from $190.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 3rd.
In other Snap-On news, SVP Thomas L. Kassouf sold 20,000 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $168.09, for a total transaction of $3,361,800.00. Following the transaction, the senior vice president now directly owns 45,542 shares in the company, valued at approximately $7,655,154.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Aldo John Pagliari sold 1,700 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $171.42, for a total value of $291,414.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,889 shares of company stock worth $8,578,934 over the last 90 days. Company insiders own 3.40% of the company’s stock.
Snap-On Company Profile
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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