Quantbot Technologies LP Trims Stake in Snap-On Incorporated $SNA

Quantbot Technologies LP cut its position in shares of Snap-On Incorporated (NYSE:SNA) by 91.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,880 shares of the company’s stock after selling 43,044 shares during the period. Quantbot Technologies LP’s holdings in Snap-On were worth $1,345,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNA. First Trust Advisors LP grew its holdings in shares of Snap-On by 40.7% in the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after purchasing an additional 547,527 shares in the last quarter. Norges Bank purchased a new position in shares of Snap-On in the 2nd quarter worth $168,010,000. Rakuten Investment Management Inc. bought a new stake in shares of Snap-On in the 3rd quarter worth about $61,134,000. Laurel Wealth Advisors LLC raised its position in shares of Snap-On by 21,600.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock valued at $51,322,000 after buying an additional 164,166 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Snap-On by 17.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company’s stock valued at $249,073,000 after acquiring an additional 119,089 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

Shares of Snap-On stock opened at $382.15 on Friday. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $390.13. The company has a market capitalization of $19.84 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The stock’s fifty day moving average is $370.41 and its two-hundred day moving average is $349.33. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.82 earnings per share. As a group, analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s payout ratio is currently 50.86%.

Analysts Set New Price Targets

SNA has been the topic of several analyst reports. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Roth Mkm restated a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Tigress Financial raised their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 price target on shares of Snap-On in a research note on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.33.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the sale, the chief executive officer directly owned 846,562 shares in the company, valued at approximately $324,538,008.32. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the transaction, the senior vice president owned 19,480 shares in the company, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 46,429 shares of company stock worth $17,598,523 over the last three months. Company insiders own 3.90% of the company’s stock.

About Snap-On

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.