Quantbot Technologies LP Cuts Stock Position in Snap-On Incorporated $SNA

Quantbot Technologies LP reduced its stake in Snap-On Incorporated (NYSE:SNA) by 91.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,880 shares of the company’s stock after selling 43,044 shares during the period. Quantbot Technologies LP’s holdings in Snap-On were worth $1,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SNA. Tobam acquired a new stake in shares of Snap-On during the second quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its position in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the period. SJS Investment Consulting Inc. grew its stake in Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Snap-On in the third quarter valued at about $36,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Snap-On in the second quarter worth about $37,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SNA shares. Roth Mkm reissued a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Tigress Financial lifted their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Robert W. Baird set a $375.00 target price on Snap-On in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and an average price target of $377.33.

Snap-On Stock Down 0.4%

SNA stock opened at $382.15 on Friday. Snap-On Incorporated has a one year low of $289.81 and a one year high of $390.13. The firm has a market cap of $19.84 billion, a PE ratio of 19.91, a PEG ratio of 2.65 and a beta of 0.78. The firm’s 50 day moving average price is $370.41 and its 200-day moving average price is $349.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted $4.82 earnings per share. Snap-On’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s dividend payout ratio is presently 50.86%.

Insider Buying and Selling at Snap-On

In other Snap-On news, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the transaction, the senior vice president owned 19,480 shares of the company’s stock, valued at $7,502,332.40. This trade represents a 29.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the sale, the vice president directly owned 2,913 shares in the company, valued at $1,128,991.41. This represents a 32.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,429 shares of company stock valued at $17,598,523 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.