Quadrature Capital Ltd Makes New $1.89 Million Investment in Snap-on Incorporated (NYSE:SNA)

Quadrature Capital Ltd acquired a new stake in Snap-on Incorporated (NYSE:SNAFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,547 shares of the company’s stock, valued at approximately $1,892,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in Snap-on by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 86,618 shares of the company’s stock worth $25,019,000 after purchasing an additional 955 shares during the period. Wahed Invest LLC grew its holdings in Snap-on by 7.9% during the fourth quarter. Wahed Invest LLC now owns 883 shares of the company’s stock worth $255,000 after acquiring an additional 65 shares during the period. Wellington Management Group LLP grew its holdings in Snap-on by 3.3% during the fourth quarter. Wellington Management Group LLP now owns 159,233 shares of the company’s stock worth $45,993,000 after acquiring an additional 5,144 shares during the period. Goldman Sachs Group Inc. raised its position in Snap-on by 11.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock valued at $78,401,000 after acquiring an additional 28,566 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at $200,276,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,336 shares of company stock worth $10,563,314. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNA. Robert W. Baird dropped their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $316.75.

Get Our Latest Research Report on SNA

Snap-on Trading Up 2.3 %

Shares of NYSE:SNA opened at $268.23 on Tuesday. The business’s 50 day moving average price is $273.88 and its 200-day moving average price is $280.88. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The firm has a market capitalization of $14.14 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83.

Snap-on (NYSE:SNAGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm posted $4.60 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that Snap-on Incorporated will post 19.01 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, May 17th. Snap-on’s payout ratio is 39.03%.

Snap-on Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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