Sprucegrove Investment Management Ltd. Purchases 5,500 Shares of Snap-On Incorporated $SNA

Sprucegrove Investment Management Ltd. boosted its holdings in Snap-On Incorporated (NYSE:SNA) by 13.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 47,080 shares of the company’s stock after buying an additional 5,500 shares during the period. Snap-On accounts for approximately 1.2% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 18th biggest position. Sprucegrove Investment Management Ltd. owned about 0.09% of Snap-On worth $14,650,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Ameritas Advisory Services LLC bought a new stake in Snap-On during the 2nd quarter valued at approximately $30,000. Ransom Advisory Ltd bought a new position in Snap-On in the 1st quarter worth approximately $34,000. Cullen Frost Bankers Inc. raised its position in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after buying an additional 38 shares during the last quarter. Finally, Harbor Asset Planning Inc. purchased a new position in shares of Snap-On in the second quarter worth $45,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the sale, the chief financial officer owned 111,667 shares of the company’s stock, valued at $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by corporate insiders.

Snap-On Price Performance

Shares of Snap-On stock opened at $343.13 on Thursday. The stock has a market cap of $17.85 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The stock has a 50 day moving average price of $336.67 and a 200-day moving average price of $325.51. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.Snap-On’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $4.70 earnings per share. Equities analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Tigress Financial lifted their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Bank of America increased their price target on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Robert W. Baird lifted their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $365.00.

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.