Snap-on Incorporated (SNA) Shares Bought by BB&T Corp

BB&T Corp raised its stake in Snap-on Incorporated (NYSE:SNA) by 23.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,893 shares of the company’s stock after purchasing an additional 8,996 shares during the quarter. BB&T Corp owned about 0.08% of Snap-on worth $8,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Trail Advisors LLC lifted its holdings in shares of Snap-on by 7,857.1% during the 1st quarter. Summit Trail Advisors LLC now owns 104,158 shares of the company’s stock valued at $104,000 after acquiring an additional 102,849 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Snap-on during the 2nd quarter valued at $107,000. Flagship Harbor Advisors LLC acquired a new position in shares of Snap-on during the 2nd quarter valued at $117,000. Conning Inc. acquired a new position in shares of Snap-on during the 2nd quarter valued at $207,000. Finally, Aureus Asset Management LLC acquired a new position in shares of Snap-on during the 2nd quarter valued at $214,000.

Several equities analysts recently weighed in on SNA shares. Barrington Research restated a “buy” rating and set a $200.00 target price on shares of Snap-on in a report on Monday, August 20th. Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a report on Thursday, October 4th. Northcoast Research lowered shares of Snap-on from a “buy” rating to a “neutral” rating in a report on Tuesday, July 24th. Finally, B. Riley set a $205.00 target price on shares of Snap-on and gave the company a “buy” rating in a report on Tuesday, July 17th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Snap-on has a consensus rating of “Buy” and an average target price of $194.75.

In other news, VP Iain Boyd sold 4,291 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $170.03, for a total value of $729,598.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 21,624 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $169.79, for a total transaction of $3,671,538.96. Following the completion of the sale, the chairman now directly owns 443,955 shares of the company’s stock, valued at approximately $75,379,119.45. The disclosure for this sale can be found here. Insiders have sold a total of 32,395 shares of company stock worth $5,553,865 in the last ninety days. 4.00% of the stock is currently owned by insiders.

Snap-on stock opened at $151.47 on Friday. Snap-on Incorporated has a 12-month low of $141.63 and a 12-month high of $189.46. The firm has a market cap of $10.36 billion, a P/E ratio of 15.35, a PEG ratio of 1.51 and a beta of 1.15. The company has a current ratio of 2.33, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.02. Snap-on had a net margin of 16.04% and a return on equity of 21.04%. The firm had revenue of $898.10 million for the quarter, compared to the consensus estimate of $928.73 million. During the same quarter in the previous year, the firm posted $2.45 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Snap-on Incorporated will post 11.8 EPS for the current fiscal year.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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