GSA Capital Partners LLP grew its holdings in Snap-On Incorporated (NYSE:SNA) by 120.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,157 shares of the company’s stock after purchasing an additional 2,271 shares during the period. GSA Capital Partners LLP’s holdings in Snap-On were worth $657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SNA. Mutual of America Capital Management LLC raised its position in shares of Snap-On by 7.3% in the first quarter. Mutual of America Capital Management LLC now owns 7,244 shares of the company’s stock valued at $1,222,000 after purchasing an additional 495 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Snap-On by 4.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,750 shares of the company’s stock valued at $464,000 after purchasing an additional 127 shares during the period. Pacer Advisors Inc. raised its position in shares of Snap-On by 2.9% in the first quarter. Pacer Advisors Inc. now owns 1,185 shares of the company’s stock valued at $200,000 after purchasing an additional 33 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Snap-On in the first quarter valued at approximately $255,000. Finally, Cadence Capital Management LLC raised its position in shares of Snap-On by 9.1% in the first quarter. Cadence Capital Management LLC now owns 1,883 shares of the company’s stock valued at $318,000 after purchasing an additional 157 shares during the period. 93.13% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on SNA. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. FBR & Co set a $205.00 price target on shares of Snap-On and gave the company a “buy” rating in a research report on Friday, July 21st. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price target on shares of Snap-On in a research report on Thursday, July 6th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $197.00 price target on shares of Snap-On in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $197.00.

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Shares of Snap-On Incorporated (SNA) opened at 149.27 on Friday. Snap-On Incorporated has a 12-month low of $140.83 and a 12-month high of $181.73. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 15.45 and a beta of 1.05. The company’s 50-day moving average is $147.07 and its 200-day moving average is $157.35.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 20th. The company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company had revenue of $921.40 million for the quarter, compared to analysts’ expectations of $920.87 million. During the same quarter last year, the business earned $2.36 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Snap-On Incorporated will post $10.09 earnings per share for the current year.

Snap-On announced that its board has approved a share repurchase program on Monday, August 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, August 16th. Snap-On’s payout ratio is 29.34%.

In other Snap-On news, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $147.54, for a total transaction of $2,717,391.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ruth Ann M. Gillis bought 265 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $152.58 per share, for a total transaction of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.

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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