Synovus Financial Corp grew its stake in Snap-on Incorporated (NYSE:SNA) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,502 shares of the company’s stock after acquiring an additional 326 shares during the period. Synovus Financial Corp’s holdings in Snap-on were worth $1,010,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its position in shares of Snap-on by 1.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 77,396 shares of the company’s stock worth $14,210,000 after purchasing an additional 1,361 shares during the period. USA Financial Portformulas Corp purchased a new stake in shares of Snap-on in the 3rd quarter worth approximately $376,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Snap-on by 330.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 53,395 shares of the company’s stock worth $9,804,000 after purchasing an additional 40,986 shares during the period. Robecosam AG lifted its position in shares of Snap-on by 28.9% in the 3rd quarter. Robecosam AG now owns 3,030 shares of the company’s stock worth $558,000 after purchasing an additional 680 shares during the period. Finally, Regentatlantic Capital LLC purchased a new stake in shares of Snap-on in the 3rd quarter worth approximately $209,000.
In related news, SVP Aldo John Pagliari sold 6,480 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $177.89, for a total transaction of $1,152,727.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.02. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The firm had revenue of $898.10 million during the quarter, compared to analysts’ expectations of $928.73 million. During the same quarter in the prior year, the company earned $2.45 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect that Snap-on Incorporated will post 11.8 EPS for the current year.
SNA has been the subject of several research reports. Barrington Research reaffirmed a “buy” rating and issued a $200.00 price target on shares of Snap-on in a research report on Monday, August 20th. Zacks Investment Research raised shares of Snap-on from a “hold” rating to a “buy” rating and set a $208.00 price target for the company in a research report on Thursday, October 4th. Robert W. Baird lowered their price target on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Northcoast Research cut shares of Snap-on from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 24th. Finally, B. Riley set a $205.00 price target on shares of Snap-on and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Snap-on currently has an average rating of “Buy” and an average price target of $195.40.
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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