Simon Quick Advisors LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Simon Quick Advisors LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,065 shares of the company's stock, valued at approximately $359,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Redhawk Wealth Advisors Inc. raised its position in Snap-on by 19.4% in the first quarter. Redhawk Wealth Advisors Inc. now owns 3,102 shares of the company's stock valued at $1,045,000 after purchasing an additional 505 shares during the period. CX Institutional acquired a new stake in shares of Snap-on during the first quarter valued at about $113,000. Assenagon Asset Management S.A. grew its stake in shares of Snap-on by 4.5% during the first quarter. Assenagon Asset Management S.A. now owns 7,441 shares of the company's stock valued at $2,508,000 after acquiring an additional 320 shares in the last quarter. Trueblood Wealth Management LLC grew its stake in shares of Snap-on by 11.4% during the first quarter. Trueblood Wealth Management LLC now owns 4,085 shares of the company's stock valued at $1,377,000 after acquiring an additional 418 shares in the last quarter. Finally, Sarasin & Partners LLP acquired a new stake in shares of Snap-on during the first quarter valued at about $26,359,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Down 2.9%

NYSE:SNA traded down $9.33 during mid-day trading on Friday, reaching $309.86. The stock had a trading volume of 318,945 shares, compared to its average volume of 367,007. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock's 50 day simple moving average is $319.15 and its two-hundred day simple moving average is $334.05. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $4.91 earnings per share. Equities analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Tuesday, May 20th. Snap-on's dividend payout ratio (DPR) is 44.82%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Monday, March 31st. Wall Street Zen upgraded Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Robert W. Baird decreased their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Tigress Financial lifted their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Insider Buying and Selling

In other news, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director now directly owns 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer now directly owns 804,510 shares in the company, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,515 shares of company stock valued at $17,094,296 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

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.