KBC Group NV Trims Stake in Snap-on Incorporated (SNA)

KBC Group NV cut its position in Snap-on Incorporated (NYSE:SNA) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,863 shares of the company’s stock after selling 438 shares during the period. KBC Group NV’s holdings in Snap-on were worth $1,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Leavell Investment Management Inc. grew its stake in shares of Snap-on by 4.3% in the fourth quarter. Leavell Investment Management Inc. now owns 1,587 shares of the company’s stock worth $231,000 after purchasing an additional 65 shares in the last quarter. CWM LLC grew its stake in shares of Snap-on by 1.6% in the fourth quarter. CWM LLC now owns 4,443 shares of the company’s stock worth $646,000 after purchasing an additional 71 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Snap-on by 11.5% in the third quarter. Rehmann Capital Advisory Group now owns 716 shares of the company’s stock worth $131,000 after purchasing an additional 74 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Snap-on by 3.8% in the fourth quarter. Raymond James Trust N.A. now owns 2,175 shares of the company’s stock worth $316,000 after purchasing an additional 80 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its stake in shares of Snap-on by 8.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,832 shares of the company’s stock worth $266,000 after purchasing an additional 140 shares in the last quarter.

Several research analysts have recently issued reports on SNA shares. TheStreet raised Snap-on from a “c+” rating to a “b-” rating in a research note on Friday, January 11th. Barrington Research reaffirmed a “buy” rating and set a $196.00 target price on shares of Snap-on in a research note on Tuesday, October 16th. Robert W. Baird decreased their target price on Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Bank of America began coverage on Snap-on in a research note on Friday, December 21st. They set a “buy” rating and a $165.00 target price for the company. Finally, Zacks Investment Research cut Snap-on from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $190.33.

Shares of SNA stock opened at $153.08 on Monday. Snap-on Incorporated has a fifty-two week low of $135.29 and a fifty-two week high of $189.46. The stock has a market cap of $8.52 billion, a P/E ratio of 12.96, a PEG ratio of 1.21 and a beta of 1.34. The company has a quick ratio of 1.62, a current ratio of 2.33 and a debt-to-equity ratio of 0.30.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 7th. The company reported $3.03 EPS for the quarter, meeting the consensus estimate of $3.03. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. The business had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.74 million. During the same period in the prior year, the business posted $2.69 earnings per share. Snap-on’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-on Incorporated will post 12.39 EPS for the current fiscal year.

In other news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the company’s stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $140.80, for a total transaction of $3,158,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

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Snap-on Company 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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