MQS Management LLC Boosts Stock Holdings in Snap-On Incorporated $SNA

MQS Management LLC raised its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 60.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,949 shares of the company’s stock after buying an additional 734 shares during the period. MQS Management LLC’s holdings in Snap-On were worth $606,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Choreo LLC boosted its position in Snap-On by 78.3% during the first quarter. Choreo LLC now owns 7,218 shares of the company’s stock valued at $2,432,000 after buying an additional 3,170 shares during the period. Advisors Capital Management LLC boosted its holdings in shares of Snap-On by 5.3% during the first quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock worth $418,000 after purchasing an additional 63 shares during the period. Jump Financial LLC boosted its holdings in shares of Snap-On by 367.7% during the first quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock worth $1,861,000 after purchasing an additional 4,342 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Snap-On during the first quarter worth about $1,986,000. Finally, Ascent Group LLC purchased a new stake in shares of Snap-On during the first quarter worth about $421,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock valued at $8,983,203 in the last ninety days. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday. Robert W. Baird increased their target price on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Price Performance

SNA stock opened at $344.10 on Friday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89. The company has a market cap of $17.90 billion, a P/E ratio of 18.04, a PEG ratio of 2.38 and a beta of 0.78. The firm has a 50-day moving average of $334.54 and a 200 day moving average of $324.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $4.70 earnings per share. Snap-On’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 44.89%.

About Snap-On

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.