Allianz Asset Management GmbH Trims Stake in Snap-On Incorporated $SNA

Allianz Asset Management GmbH reduced its position in Snap-On Incorporated (NYSE:SNA) by 70.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,179 shares of the company’s stock after selling 14,762 shares during the quarter. Allianz Asset Management GmbH’s holdings in Snap-On were worth $2,141,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after buying an additional 80,422 shares during the last quarter. State Street Corp raised its holdings in shares of Snap-On by 0.6% in the second quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after buying an additional 12,184 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap-On by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after acquiring an additional 36,421 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Snap-On by 40.7% during the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock worth $588,973,000 after purchasing an additional 547,527 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after acquiring an additional 36,964 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total value of $7,667,164.05. Following the completion of the transaction, the chief executive officer directly owned 826,364 shares in the company, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,036 shares of company stock valued at $16,792,028 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Trading Down 1.1%

Shares of SNA opened at $378.65 on Friday. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $390.13. The firm has a market capitalization of $19.69 billion, a P/E ratio of 19.73, a P/E/G ratio of 2.63 and a beta of 0.81. The firm has a 50-day moving average price of $359.68 and a 200 day moving average price of $342.93. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business posted $4.82 EPS. Snap-On’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Analyst Ratings Changes

SNA has been the topic of a number of recent research reports. Robert W. Baird set a $375.00 target price on Snap-On in a research note on Friday, February 6th. Tigress Financial lifted their target price 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 reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Roth Mkm reiterated a “buy” rating and issued a $409.00 price objective (up previously from $385.00) on shares of Snap-On in a research report on Tuesday. Five research 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.com, Snap-On presently has a consensus rating of “Moderate Buy” and an average price target of $370.67.

Snap-On Profile

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.