AlphaQuest LLC Boosts Stock Position in Snap-On Incorporated $SNA

Key Points

• AlphaQuest LLC significantly increased its investment in Snap-On Incorporated by 1,390.7%, owning 5,456 shares valued at approximately $1.84 million as of the end of the most recent quarter.
• Snap-On reported $4.72 earnings per share (EPS) for the latest quarter, surpassing analysts' expectations with revenues totaling $1.18 billion.
• The company announced a quarterly dividend of $2.14 per share, with a dividend yield of 2.6% expected to be paid on September 10th.

AlphaQuest LLC boosted its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 1,390.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,456 shares of the company's stock after buying an additional 5,090 shares during the quarter. AlphaQuest LLC's holdings in Snap-On were worth $1,839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allstate Corp lifted its holdings in shares of Snap-On by 34.6% during the first quarter. Allstate Corp now owns 2,087 shares of the company's stock worth $703,000 after purchasing an additional 537 shares during the period. Kestra Advisory Services LLC raised its position in Snap-On by 1.2% during the 1st quarter. Kestra Advisory Services LLC now owns 10,909 shares of the company's stock worth $3,676,000 after purchasing an additional 130 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Snap-On by 3.6% during the 1st quarter. 1832 Asset Management L.P. now owns 5,478 shares of the company's stock worth $1,846,000 after buying an additional 188 shares during the period. Ameriprise Financial Inc. grew its position in shares of Snap-On by 54.3% in the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company's stock valued at $229,793,000 after buying an additional 239,908 shares during the last quarter. Finally, Norinchukin Bank The raised its position in shares of Snap-On by 12.3% during the first quarter. Norinchukin Bank The now owns 2,320 shares of the company's stock worth $782,000 after acquiring an additional 254 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. The trade was a 4.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 804,510 shares in the company, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,160 shares of company stock worth $16,650,792. Insiders own 3.90% of the company's stock.

Snap-On Stock Up 0.3%

NYSE:SNA traded up $0.83 on Wednesday, hitting $330.62. The stock had a trading volume of 200,333 shares, compared to its average volume of 375,371. The company has a market cap of $17.25 billion, a PE ratio of 17.63, a P/E/G ratio of 2.29 and a beta of 0.76. Snap-On Incorporated has a 52 week low of $268.90 and a 52 week high of $373.89. The business's fifty day moving average is $321.03 and its 200 day moving average is $323.92. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.Snap-On's quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $5.07 EPS. On average, equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.6%. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SNA shares. Barrington Research restated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Robert W. Baird increased their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Bank of America boosted their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Company 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.