NuWave Investment Management LLC Boosts Holdings in Snap-on Incorporated (NYSE:SNA)

NuWave Investment Management LLC boosted its position in shares of Snap-on Incorporated (NYSE:SNA) by 6,660.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 338 shares of the company’s stock after acquiring an additional 333 shares during the period. NuWave Investment Management LLC’s holdings in Snap-on were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SNA. FMR LLC lifted its position in Snap-on by 28.9% during the second quarter. FMR LLC now owns 870,282 shares of the company’s stock valued at $120,543,000 after acquiring an additional 194,995 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Snap-on by 1.3% during the second quarter. Cubist Systematic Strategies LLC now owns 9,289 shares of the company’s stock valued at $1,287,000 after acquiring an additional 116 shares during the last quarter. Man Group plc lifted its position in Snap-on by 28.7% during the second quarter. Man Group plc now owns 10,638 shares of the company’s stock valued at $1,473,000 after acquiring an additional 2,375 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Snap-on in the second quarter worth $268,000. Finally, Cigna Investments Inc. New purchased a new position in shares of Snap-on in the second quarter worth $389,000. 94.85% of the stock is owned by institutional investors.

In other news, CEO Nicholas T. Pinchuk sold 26,591 shares of Snap-on stock in a transaction dated Monday, December 21st. The shares were sold at an average price of $168.11, for a total value of $4,470,213.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Thomas J. Ward sold 12,011 shares of Snap-on stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $170.51, for a total transaction of $2,047,995.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,449 shares of company stock worth $13,842,186. 4.20% of the stock is owned by company insiders.

A number of research firms have issued reports on SNA. Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a report on Sunday, November 1st. UBS Group decreased their price target on shares of Snap-on from $148.00 to $141.00 and set a “sell” rating for the company in a report on Tuesday, November 3rd. Zacks Investment Research raised shares of Snap-on from a “hold” rating to a “strong-buy” rating and set a $174.00 price target for the company in a report on Tuesday, October 27th. Longbow Research cut shares of Snap-on from a “neutral” rating to an “underperform” rating and set a $128.00 price target for the company. in a report on Monday, October 19th. Finally, BidaskClub cut shares of Snap-on from a “buy” rating to a “hold” rating in a report on Thursday, December 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $158.33.

NYSE:SNA opened at $171.59 on Thursday. The firm has a market capitalization of $9.30 billion, a P/E ratio of 16.53, a PEG ratio of 1.69 and a beta of 1.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.34 and a quick ratio of 2.40. The company’s fifty day moving average price is $173.92 and its 200-day moving average price is $156.88. Snap-on Incorporated has a 1-year low of $90.72 and a 1-year high of $183.23.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 22nd. The company reported $3.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $1.12. The company had revenue of $941.60 million for the quarter, compared to analyst estimates of $817.14 million. Snap-on had a net margin of 16.71% and a return on equity of 17.12%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $2.96 earnings per share. Equities analysts anticipate that Snap-on Incorporated will post 9.29 EPS for the current fiscal year.

Snap-on Profile

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.

Further Reading: Conference Calls and Individual Investors

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

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