Park Avenue Securities LLC Purchases 293 Shares of Snap-on Incorporated (NYSE:SNA)

Park Avenue Securities LLC boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,973 shares of the company’s stock after buying an additional 293 shares during the period. Park Avenue Securities LLC’s holdings in Snap-on were worth $7,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Scarborough Advisors LLC purchased a new stake in shares of Snap-on in the 4th quarter valued at about $30,000. Versant Capital Management Inc increased its position in shares of Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after purchasing an additional 164 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new stake in Snap-on in the fourth quarter valued at approximately $55,000. Fidelis Capital Partners LLC bought a new stake in Snap-on during the first quarter valued at approximately $56,000. Finally, EntryPoint Capital LLC purchased a new position in Snap-on in the 1st quarter worth approximately $61,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Down 1.2 %

Shares of SNA stock traded down $3.34 on Wednesday, hitting $269.04. 222,658 shares of the company’s stock traded hands, compared to its average volume of 301,532. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.92 and a beta of 0.98. The company’s fifty day simple moving average is $268.43 and its 200 day simple moving average is $276.88. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49. 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 data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $4.89 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts forecast that Snap-on Incorporated will post 18.97 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares in the company, valued at approximately $200,276,888.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 5,978 shares of the company’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 transaction, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The disclosure for this sale can be found here. Insiders have sold 38,632 shares of company stock valued at $10,353,409 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. 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. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Company 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.