Quantinno Capital Management LP Buys 77,845 Shares of Snap-On Incorporated $SNA

Quantinno Capital Management LP lifted its stake in Snap-On Incorporated (NYSE:SNA) by 44.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,770 shares of the company’s stock after acquiring an additional 77,845 shares during the period. Quantinno Capital Management LP owned 0.49% of Snap-On worth $92,174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SNA. Auto Owners Insurance Co lifted its position in shares of Snap-On by 34,360.0% during the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after buying an additional 1,022,210 shares during the last quarter. Norges Bank bought a new position in shares of Snap-On during the 4th quarter worth approximately $210,814,000. PFA Pension Forsikringsaktieselskab purchased a new stake in Snap-On during the fourth quarter valued at approximately $69,751,000. UBS Group AG boosted its stake in Snap-On by 30.7% in the fourth quarter. UBS Group AG now owns 617,620 shares of the company’s stock valued at $212,832,000 after acquiring an additional 144,926 shares in the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new position in Snap-On in the first quarter worth $51,244,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Up 0.8%

Snap-On stock opened at $407.27 on Tuesday. The business’s 50-day moving average price is $390.45 and its 200 day moving average price is $378.91. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. The firm has a market cap of $21.07 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $419.68.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $4.72 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.67 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Snap-On declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNA. Roth Capital restated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday. Robert W. Baird set a $415.00 price target on Snap-On in a research note on Friday. Barclays assumed coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $418.20.

Insider Activity at Snap-On

In other news, SVP Jesus Arregui sold 4,251 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president directly owned 4,439 shares in the company, valued at $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 1,330 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the sale, the chief financial officer directly owned 118,158 shares of the company’s stock, valued at $44,813,784.66. This represents a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,117 shares of company stock worth $14,003,922 over the last three months. Company insiders own 3.80% of the company’s stock.

Snap-On Profile

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.