Millennium Management LLC Grows Stake in Snap-on Incorporated (SNA)

Millennium Management LLC increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 13,005.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,113 shares of the company’s stock after acquiring an additional 241,258 shares during the period. Millennium Management LLC owned approximately 0.44% of Snap-on worth $35,322,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SNA. BlackRock Inc. boosted its position in shares of Snap-on by 17.9% in the 4th quarter. BlackRock Inc. now owns 4,525,663 shares of the company’s stock valued at $657,532,000 after purchasing an additional 687,661 shares during the period. Morgan Stanley boosted its position in shares of Snap-on by 348.6% in the 3rd quarter. Morgan Stanley now owns 623,240 shares of the company’s stock valued at $114,427,000 after purchasing an additional 484,317 shares during the period. Investec Asset Management LTD boosted its position in shares of Snap-on by 55.2% in the 4th quarter. Investec Asset Management LTD now owns 1,114,605 shares of the company’s stock valued at $161,941,000 after purchasing an additional 396,566 shares during the period. Federated Investors Inc. PA boosted its position in shares of Snap-on by 11,813.7% in the 3rd quarter. Federated Investors Inc. PA now owns 333,225 shares of the company’s stock valued at $61,180,000 after purchasing an additional 330,428 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Snap-on by 14.1% in the 4th quarter. Northern Trust Corp now owns 1,126,132 shares of the company’s stock valued at $163,616,000 after purchasing an additional 139,258 shares during the period.

NYSE SNA traded up $10.23 during trading on Friday, reaching $168.07. 2,511,740 shares of the company’s stock were exchanged, compared to its average volume of 699,085. Snap-on Incorporated has a fifty-two week low of $135.29 and a fifty-two week high of $189.46. The firm has a market capitalization of $9.34 billion, a PE ratio of 14.23, a PEG ratio of 1.64 and a beta of 1.26. The company has a current ratio of 2.42, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $3.01 EPS for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.10. The firm had revenue of $921.70 million during the quarter, compared to analyst estimates of $933.13 million. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.79 EPS. Research analysts anticipate that Snap-on Incorporated will post 12.28 EPS for the current year.

In other news, Chairman Nicholas T. Pinchuk sold 11,783 shares of Snap-on stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $156.68, for a total transaction of $1,846,160.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Iain Boyd sold 26,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $158.79, for a total value of $4,207,935.00. Following the completion of the transaction, the vice president now directly owns 19,038 shares in the company, valued at $3,023,044.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,327 shares of company stock valued at $9,123,183. 3.90% of the stock is owned by corporate insiders.

SNA has been the subject of a number of recent analyst reports. TheStreet upgraded Snap-on from a “c+” rating to a “b-” rating in a research report on Friday, January 11th. Zacks Investment Research upgraded Snap-on from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Bank of America lowered Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price target for the company. in a research report on Tuesday, April 16th. Finally, Robert W. Baird lowered Snap-on from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $186.00 to $160.00 in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $185.83.

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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. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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

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