Pitcairn Co. Has $580,000 Stock Position in Snap-on Incorporated (NYSE:SNA)

Pitcairn Co. reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,958 shares of the company’s stock after selling 37 shares during the period. Pitcairn Co.’s holdings in Snap-on were worth $580,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Snap-on during the fourth quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new position in shares of Snap-on during the fourth quarter worth $33,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Snap-on during the fourth quarter worth $55,000. Fidelis Capital Partners LLC acquired a new position in shares of Snap-on during the first quarter worth $56,000. Finally, Venturi Wealth Management LLC increased its holdings 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 worth $79,000 after buying an additional 40 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

NYSE SNA opened at $273.47 on Friday. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.87 and a beta of 0.98. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The stock has a fifty day simple moving average of $267.69 and a 200 day simple moving average of $277.26. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22.

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

Insider Buying and Selling at Snap-on

In other Snap-on 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 sale, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Snap-on 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 sale, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,632 shares of company stock valued at $10,353,409. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNA. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Robert W. Baird lowered their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Finally, Tigress Financial restated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a report on Thursday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $315.00.

About Snap-on

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.