Rowland & Co. Investment Counsel ADV Increases Stake in Snap-On Incorporated (SNA)

Rowland & Co. Investment Counsel ADV grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 40.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,095 shares of the company’s stock after purchasing an additional 315 shares during the period. Rowland & Co. Investment Counsel ADV’s holdings in Snap-On were worth $174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Snap-On by 4.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,750 shares of the company’s stock valued at $464,000 after purchasing an additional 127 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Snap-On by 2.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,185 shares of the company’s stock valued at $200,000 after purchasing an additional 33 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Snap-On during the 1st quarter valued at about $255,000. Van ECK Associates Corp boosted its stake in shares of Snap-On by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock valued at $143,000 after purchasing an additional 59 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of Snap-On by 12.0% during the 1st quarter. OppenheimerFunds Inc. now owns 2,645 shares of the company’s stock valued at $446,000 after purchasing an additional 283 shares in the last quarter. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on SNA. Zacks Investment Research raised shares of Snap-On from a “sell” rating to a “hold” rating in a research note on Monday. Robert W. Baird reaffirmed an “outperform” rating and set a $197.00 target price on shares of Snap-On in a research note on Wednesday, August 2nd. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. FBR & Co reaffirmed an “outperform” rating and set a $205.00 target price on shares of Snap-On in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 target price on shares of Snap-On in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $197.00.

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In other Snap-On news, Director Ruth Ann M. Gillis bought 265 shares of the company’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $152.58 per share, for a total transaction of $40,433.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Iain Boyd sold 18,418 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Shares of Snap-On Incorporated (NYSE:SNA) traded up 0.21% on Tuesday, reaching $151.26. 124,085 shares of the company were exchanged. The company’s 50-day moving average is $147.15 and its 200-day moving average is $157.08. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 15.66 and a beta of 1.05. Snap-On Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company had revenue of $921.40 million for the quarter, compared to analysts’ expectations of $920.87 million. During the same period in the prior year, the business earned $2.36 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.

Snap-On announced that its board has authorized a share repurchase plan on Monday, August 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About Snap-On

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.

Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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