MQS Management LLC Acquires Shares of 1,215 Snap-On Incorporated (NYSE:SNA)

MQS Management LLC acquired a new position in Snap-On Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,215 shares of the company's stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Alpine Bank Wealth Management purchased a new position in Snap-On in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC increased its stake in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after buying an additional 80 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Snap-On in the first quarter worth $35,000. CoreFirst Bank & Trust bought a new stake in Snap-On during the 4th quarter valued at $40,000. Finally, TCTC Holdings LLC boosted its position in Snap-On by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after buying an additional 43 shares during the period. Institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer owned 804,510 shares in the company, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the transaction, the director owned 8,030 shares of the company's stock, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock valued at $9,482,532 in the last three months. Company insiders own 3.90% of the company's stock.

Snap-On Stock Up 0.6%

Snap-On stock traded up $1.79 during trading hours on Monday, hitting $319.36. 377,864 shares of the stock traded hands, compared to its average volume of 391,864. Snap-On Incorporated has a one year low of $266.55 and a one year high of $373.89. The firm's 50-day moving average price is $317.94 and its two-hundred day moving average price is $328.23. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. The company has a market cap of $16.70 billion, a PE ratio of 16.72, a PEG ratio of 2.27 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the previous year, the company earned $4.91 earnings per share. On average, research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.68%. Snap-On's payout ratio is 44.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note on Monday, May 19th. Robert W. Baird lowered their price target on Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Snap-On presently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

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.