Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Snap-on Incorporated (NYSE:SNA) by 23.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,089 shares of the company’s stock after acquiring an additional 6,441 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Snap-on worth $4,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Snap-on by 4.4% during the first quarter. BlackRock Inc. now owns 4,742,078 shares of the company’s stock worth $516,033,000 after purchasing an additional 197,685 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Snap-on by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 1,861,792 shares of the company’s stock valued at $202,601,000 after purchasing an additional 7,848 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Snap-on by 34.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,403,539 shares of the company’s stock worth $152,733,000 after buying an additional 358,401 shares during the period. Geode Capital Management LLC lifted its holdings in Snap-on by 2.7% during the 1st quarter. Geode Capital Management LLC now owns 1,030,338 shares of the company’s stock worth $111,935,000 after buying an additional 27,505 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its position in Snap-on by 481.5% in the 1st quarter. Confluence Investment Management LLC now owns 834,421 shares of the company’s stock valued at $90,802,000 after buying an additional 690,929 shares during the period. 92.78% of the stock is owned by institutional investors.

SNA has been the topic of a number of recent research reports. ValuEngine raised Snap-on from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Tigress Financial restated a “buy” rating on shares of Snap-on in a report on Thursday, May 7th. TheStreet upgraded Snap-on from a “c” rating to a “b-” rating in a research note on Monday, June 22nd. Finally, Barrington Research restated a “buy” rating and set a $175.00 target price on shares of Snap-on in a research note on Friday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Snap-on presently has an average rating of “Hold” and a consensus price target of $167.00.

In related news, CEO Nicholas T. Pinchuk sold 28,628 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $135.05, for a total value of $3,866,211.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by insiders.

Shares of SNA stock opened at $145.87 on Friday. The company has a market cap of $7.93 billion, a P/E ratio of 12.41, a PEG ratio of 1.60 and a beta of 1.37. The firm has a fifty day moving average price of $136.82 and a 200 day moving average price of $136.37. The company has a current ratio of 2.50, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Snap-on Incorporated has a 12 month low of $90.72 and a 12 month high of $172.61.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.03). Snap-on had a return on equity of 19.64% and a net margin of 17.83%. The business had revenue of $724.30 million for the quarter, compared to analysts’ expectations of $704.97 million. During the same period last year, the firm earned $3.22 earnings per share. The firm’s quarterly revenue was down 23.9% on a year-over-year basis. On average, equities analysts forecast that Snap-on Incorporated will post 9.13 EPS for the current year.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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

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