Quantinno Capital Management LP Increases Stock Position in Snap-On Incorporated $SNA

Quantinno Capital Management LP raised its stake in shares of Snap-On Incorporated (NYSE:SNA) by 44.2% in the first quarter, Holdings Channel.com reports. The fund owned 253,770 shares of the company’s stock after purchasing an additional 77,845 shares during the period. Quantinno Capital Management LP’s holdings in Snap-On were worth $92,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. Vanguard Group Inc. boosted its position in shares of Snap-On by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after purchasing an additional 31,073 shares during the period. State Street Corp increased its holdings in Snap-On by 1.3% in the 4th quarter. State Street Corp now owns 2,272,041 shares of the company’s stock valued at $782,945,000 after purchasing an additional 28,071 shares during the last quarter. First Trust Advisors LP raised its position in Snap-On by 3.3% in the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after purchasing an additional 65,521 shares during the period. Charles Schwab Investment Management Inc. raised its position in Snap-On by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after purchasing an additional 39,765 shares during the period. Finally, Auto Owners Insurance Co boosted 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 worth $353,279,000 after buying an additional 1,022,210 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Trading Up 0.8%

Shares of NYSE:SNA opened at $407.27 on Tuesday. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $419.68. The company’s 50 day moving average is $390.45 and its two-hundred day moving average is $378.91. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The company has a market cap of $21.07 billion, a PE ratio of 20.77, a P/E/G ratio of 2.85 and a beta of 0.73.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $4.72 EPS. Equities analysts predict that Snap-On Incorporated will post 19.67 earnings per share for the current fiscal year.

Snap-On announced that its board has authorized a share repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date 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%.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at $322,004,076.86. The trade was a 2.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president directly owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. This represents a 30.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,117 shares of company stock valued at $14,003,922 in the last three months. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.