Envestnet Asset Management Inc. Raises Stock Position in Snap-On Incorporated $SNA

Envestnet Asset Management Inc. grew its stake in Snap-On Incorporated (NYSE:SNA) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 775,920 shares of the company’s stock after buying an additional 8,907 shares during the period. Envestnet Asset Management Inc. owned 1.49% of Snap-On worth $268,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNA. Ashton Thomas Private Wealth LLC acquired a new position in Snap-On in the third quarter valued at $262,000. Strengthening Families & Communities LLC purchased a new position in Snap-On during the 3rd quarter worth approximately $109,000. Cornerstone Planning Group LLC increased its position in Snap-On by 606.7% during the third quarter. Cornerstone Planning Group LLC now owns 212 shares of the company’s stock worth $73,000 after buying an additional 182 shares during the period. Callan Family Office LLC purchased a new stake in Snap-On in the third quarter valued at approximately $206,000. Finally, Peak Retirement Planning Inc. boosted its holdings in shares of Snap-On by 35.4% in the third quarter. Peak Retirement Planning Inc. now owns 5,412 shares of the company’s stock valued at $1,875,000 after acquiring an additional 1,414 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jesus Arregui sold 3,831 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,036 shares of company stock valued at $13,710,988 in the last three months. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Down 3.3%

Shares of Snap-On stock opened at $370.45 on Friday. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.69 and a beta of 0.81. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $388.96. The company’s 50-day simple moving average is $356.35 and its 200-day simple moving average is $341.37. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 EPS for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm earned $4.82 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SNA shares. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Robert W. Baird set a $370.00 target price on shares of Snap-On in a report on Friday, January 30th. Tigress Financial raised their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.83.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.