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

MQS Management LLC grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 60.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,949 shares of the company’s stock after purchasing an additional 734 shares during the period. MQS Management LLC’s holdings in Snap-On were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock valued at $647,593,000 after buying an additional 115,306 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snap-On during the second quarter valued at approximately $434,938,000. Nordea Investment Management AB grew its holdings in shares of Snap-On by 3.7% during the second quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock valued at $376,775,000 after buying an additional 43,430 shares during the last quarter. Auto Owners Insurance Co grew its holdings in shares of Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after buying an additional 1,070,025 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Snap-On by 5.4% during the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock valued at $283,668,000 after buying an additional 43,467 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Bank of America raised their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Friday. Roth Capital restated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Finally, Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Snap-On Trading Down 0.7%

Shares of Snap-On stock opened at $344.10 on Friday. The company’s fifty day simple moving average is $334.54 and its 200-day simple moving average is $324.74. The stock has a market capitalization of $17.90 billion, a PE ratio of 18.04, a P/E/G ratio of 2.38 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. 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 issued its quarterly earnings results 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. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.70 EPS. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

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

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.