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

Quantbot Technologies LP lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 6,106.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,924 shares of the company’s stock after purchasing an additional 46,168 shares during the quarter. Quantbot Technologies LP owned about 0.09% of Snap-On worth $14,602,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SNA. Forvis Mazars Wealth Advisors LLC lifted its holdings in Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock worth $1,553,000 after buying an additional 32 shares in the last quarter. Horizon Investments LLC boosted its holdings in Snap-On by 4.3% in the first quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after purchasing an additional 32 shares during the period. Penserra Capital Management LLC grew its stake in Snap-On by 13.5% during the 2nd quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock worth $86,000 after purchasing an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock worth $234,000 after purchasing an additional 34 shares during the period. Finally, PAX Financial Group LLC raised its position in Snap-On by 5.4% in the 2nd quarter. PAX Financial Group LLC now owns 663 shares of the company’s stock valued at $206,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-On

In related news, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the transaction, the senior vice president directly owned 2,642 shares in the company, valued at approximately $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Price Performance

Snap-On stock opened at $338.59 on Tuesday. The stock has a market capitalization of $17.61 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $371.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The firm’s 50-day moving average is $339.25 and its two-hundred day moving average is $328.56.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.70 earnings per share. Equities analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.9%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. Snap-On’s payout ratio is 51.18%.

Analysts Set New Price Targets

A number of analysts recently weighed in on SNA shares. Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Tigress Financial lifted their target price on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Snap-On Company 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.