abrdn plc Trims Position in Snap-on Incorporated (NYSE:SNA)

abrdn plc reduced its stake in Snap-on Incorporated (NYSE:SNAGet Rating) by 32.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,227 shares of the company’s stock after selling 7,787 shares during the period. abrdn plc’s holdings in Snap-on were worth $3,385,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cyrus J. Lawrence LLC bought a new position in Snap-on in the first quarter worth about $27,000. Lumature Wealth Partners LLC lifted its holdings in Snap-on by 63.4% in the fourth quarter. Lumature Wealth Partners LLC now owns 152 shares of the company’s stock worth $33,000 after acquiring an additional 59 shares during the last quarter. Bromfield Sneider Wealth Advisors bought a new position in Snap-on in the first quarter worth about $38,000. Tobam raised its holdings in shares of Snap-on by 40.8% during the first quarter. Tobam now owns 259 shares of the company’s stock valued at $53,000 after buying an additional 75 shares during the last quarter. Finally, Institutional & Family Asset Management LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $57,000. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. MKM Partners began coverage on shares of Snap-on in a research report on Thursday, June 9th. They set a “neutral” rating and a $238.00 price objective on the stock. Tigress Financial lifted their target price on shares of Snap-on from $295.00 to $298.00 and gave the stock a “buy” rating in a report on Monday, April 25th. Finally, UBS Group lowered their target price on shares of Snap-on to $175.00 in a research note on Friday, July 22nd.

Snap-on Price Performance

NYSE:SNA opened at $224.05 on Monday. Snap-on Incorporated has a 12 month low of $190.08 and a 12 month high of $235.36. The company’s 50-day moving average price is $207.77 and its two-hundred day moving average price is $210.69. The firm has a market cap of $11.93 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.71 and a beta of 1.09. The company has a quick ratio of 2.37, a current ratio of 3.28 and a debt-to-equity ratio of 0.27.

Snap-on (NYSE:SNAGet Rating) last announced its earnings results on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.91 by $0.36. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $3.76 earnings per share. Snap-on’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Snap-on Incorporated will post 15.93 EPS for the current fiscal year.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 19,394 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $216.58, for a total value of $4,200,352.52. Following the transaction, the chief executive officer now directly owns 622,123 shares in the company, valued at $134,739,399.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is owned by company insiders.

Snap-on Profile

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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.

See Also

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

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