QRG Capital Management Inc. Purchases 729 Shares of Snap-on Incorporated (NYSE:SNA)

QRG Capital Management Inc. raised its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,115 shares of the company’s stock after purchasing an additional 729 shares during the quarter. QRG Capital Management Inc.’s holdings in Snap-on were worth $36,099,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. New York Life Investment Management LLC lifted its position in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after buying an additional 31 shares in the last quarter. TrinityPoint Wealth LLC lifted its position in shares of Snap-on by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company’s stock valued at $1,414,000 after buying an additional 33 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of Snap-on by 1.0% during the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock valued at $1,148,000 after buying an additional 34 shares in the last quarter. Good Life Advisors LLC lifted its position in shares of Snap-on by 3.0% during the 4th quarter. Good Life Advisors LLC now owns 1,196 shares of the company’s stock valued at $406,000 after buying an additional 35 shares in the last quarter. Finally, Richwood Investment Advisors LLC lifted its holdings in Snap-on by 1.2% in the 4th quarter. Richwood Investment Advisors LLC now owns 3,053 shares of the company’s stock worth $1,036,000 after purchasing an additional 35 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Tigress Financial boosted their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, May 19th. Wall Street Zen raised Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Robert W. Baird lowered their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Finally, Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

Snap-on Stock Down 2.9%

Shares of SNA opened at $309.86 on Monday. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The business’s 50 day simple moving average is $319.15 and its 200-day simple moving average is $333.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the company earned $4.91 earnings per share. As a group, equities analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.76%. Snap-on’s payout ratio is presently 44.82%.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares in the company, valued at $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,515 shares of company stock worth $17,094,296. Company insiders own 3.90% of the company’s stock.

Snap-on 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.