Snap-On Incorporated $SNA Stock Position Raised by XTX Topco Ltd

XTX Topco Ltd increased its stake in Snap-On Incorporated (NYSE:SNA) by 132.6% during the second quarter, HoldingsChannel.com reports. The fund owned 7,500 shares of the company’s stock after buying an additional 4,275 shares during the period. XTX Topco Ltd’s holdings in Snap-On were worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Advisors Capital Management LLC increased its holdings in shares of Snap-On by 5.3% in the 1st quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after purchasing an additional 63 shares during the period. Jump Financial LLC grew its stake in Snap-On by 367.7% in the first quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock valued at $1,861,000 after purchasing an additional 4,342 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Snap-On in the first quarter worth approximately $1,986,000. Ascent Group LLC acquired a new position in shares of Snap-On during the 1st quarter worth $421,000. Finally, Caxton Associates LLP acquired a new position in Snap-On during the first quarter worth $946,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-On

In related news, SVP Jesus Arregui sold 3,831 shares of the 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 sale, the senior vice president owned 2,642 shares in the company, valued at approximately $891,093.76. This represents a 59.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNA has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Robert W. Baird boosted their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Roth Capital reaffirmed a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Tigress Financial upped their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Stock Up 0.2%

Shares of Snap-On stock opened at $340.89 on Thursday. The business has a fifty day simple moving average of $339.16 and a 200 day simple moving average of $328.28. The stock has a market cap of $17.73 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89.

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

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.9%. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

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.