LMR Partners LLP lowered its stake in Snap-On Inc. (NYSE:SNA) by 34.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,813 shares of the company’s stock after selling 1,486 shares during the period. LMR Partners LLP’s holdings in Snap-On were worth $444,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of SNA. Nisa Investment Advisors L.L.C. increased its position in Snap-On by 25.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 4,856 shares of the company’s stock worth $762,000 after buying an additional 1,000 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Snap-On by 4.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,606,867 shares of the company’s stock worth $252,262,000 after buying an additional 63,151 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Snap-On during the first quarter worth $1,652,000. M&T Bank Corp increased its position in Snap-On by 6.3% in the first quarter. M&T Bank Corp now owns 16,476 shares of the company’s stock worth $2,586,000 after buying an additional 978 shares during the period. Finally, ING Groep NV acquired a new position in Snap-On during the first quarter worth $213,000. 84.72% of the stock is owned by institutional investors.
Shares of Snap-On Inc. (NYSE:SNA) traded up 0.46% on Wednesday, hitting $147.37. 252,039 shares of the stock were exchanged. The stock’s 50-day moving average is $151.11 and its 200-day moving average is $156.36. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 16.90 and a beta of 1.23. Snap-On Inc. has a 1-year low of $133.09 and a 1-year high of $174.52.
Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.13. Snap-On had a net margin of 15.28% and a return on equity of 20.78%. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $876.70 million. During the same period in the prior year, the firm posted $2.03 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts forecast that Snap-On Inc. will post $9.09 earnings per share for the current year.
SNA has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. CL King initiated coverage on shares of Snap-On in a research report on Monday, June 27th. They issued a “buy” rating and a $174.00 target price for the company. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $175.07.
In related news, VP Iain Boyd sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $157.97, for a total value of $552,895.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Thomas L. Kassouf sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $153.29, for a total transaction of $306,580.00. Following the completion of the sale, the senior vice president now directly owns 26,612 shares in the company, valued at $4,079,353.48. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.