Snap-on Incorporated (NYSE:SNA) Position Trimmed by Park Place Capital Corp

Park Place Capital Corp trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 68.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 652 shares of the company’s stock after selling 1,403 shares during the quarter. Park Place Capital Corp’s holdings in Snap-on were worth $170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Checchi Capital Advisers LLC increased its position in shares of Snap-on by 2.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock valued at $529,000 after purchasing an additional 36 shares during the period. Renasant Bank boosted its stake in Snap-on by 2.3% in the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after purchasing an additional 36 shares in the last quarter. Phillips Wealth Planners LLC boosted its stake in Snap-on by 3.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock worth $286,000 after purchasing an additional 37 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Snap-on by 17.2% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock valued at $79,000 after acquiring an additional 40 shares during the period. Finally, Czech National Bank lifted its stake in shares of Snap-on by 0.4% during the first quarter. Czech National Bank now owns 9,286 shares of the company’s stock valued at $2,751,000 after acquiring an additional 41 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, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at $27,048,945.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Jesus Arregui sold 8,434 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the completion of the transaction, the senior vice president now directly owns 252 shares of the company’s stock, valued at $66,822.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the sale, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The disclosure for this sale can be found here. Insiders sold 38,632 shares of company stock worth $10,353,409 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the topic of several research reports. Robert W. Baird cut their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap-on has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Trading Down 1.8 %

NYSE:SNA traded down $5.04 during mid-day trading on Monday, hitting $271.70. The company had a trading volume of 154,256 shares, compared to its average volume of 301,603. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The business’s fifty day moving average is $268.37 and its two-hundred day moving average is $277.07. The firm has a market cap of $14.31 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.93 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned $4.89 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Snap-on Incorporated will post 18.97 earnings per share for the current year.

Snap-on Profile

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.