Robeco Institutional Asset Management B.V. Sells 1,169 Shares of Snap-On Incorporated (SNA)

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 26.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,225 shares of the company’s stock after selling 1,169 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Snap-On were worth $480,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Royce & Associates LP raised its stake in Snap-On by 7.4% during the second quarter. Royce & Associates LP now owns 36,500 shares of the company’s stock valued at $5,767,000 after purchasing an additional 2,500 shares in the last quarter. Blair William & Co. IL raised its stake in Snap-On by 6.5% during the second quarter. Blair William & Co. IL now owns 38,580 shares of the company’s stock valued at $6,096,000 after purchasing an additional 2,366 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Snap-On by 20.7% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,930 shares of the company’s stock valued at $2,359,000 after purchasing an additional 2,561 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Snap-On by 3.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 257,225 shares of the company’s stock valued at $40,642,000 after purchasing an additional 9,614 shares in the last quarter. Finally, KBC Group NV increased its position in Snap-On by 5.2% during the second quarter. KBC Group NV now owns 62,268 shares of the company’s stock valued at $9,838,000 after acquiring an additional 3,060 shares during the last quarter. 94.96% of the stock is currently owned by institutional investors.

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A number of research analysts have weighed in on SNA shares. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub cut shares of Snap-On from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Longbow Research cut shares of Snap-On from a “buy” rating to a “neutral” rating in a research report on Monday, August 21st. Jefferies Group LLC reiterated a “hold” rating and set a $175.00 price objective on shares of Snap-On in a research report on Thursday, July 6th. Finally, FBR & Co reiterated a “buy” rating and set a $205.00 price objective on shares of Snap-On in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $192.00.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 19th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The business had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. During the same quarter in the previous year, the firm earned $2.22 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.

Snap-On announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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

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