AQR Capital Management LLC Boosts Stock Position in Snap-On Incorporated $SNA

Key Points

• AQR Capital Management LLC increased its stake in Snap-On by 7.9%, owning approximately 0.54% of the company worth $93 million after acquiring an additional 20,436 shares.
• Snap-On's recent earnings report showed a better-than-expected earnings per share of $4.72, exceeding analysts' forecasts of $4.61, with revenue reaching $1.18 billion.
• The company declared a quarterly dividend of $2.14 per share, representing a yield of 2.6%, payable on September 10th to investors of record on August 19th.

AQR Capital Management LLC raised its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 280,347 shares of the company's stock after purchasing an additional 20,436 shares during the period. AQR Capital Management LLC owned about 0.54% of Snap-On worth $93,075,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Forvis Mazars Wealth Advisors LLC grew its holdings in Snap-On by 0.7% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock valued at $1,553,000 after purchasing an additional 32 shares during the period. Horizon Investments LLC grew its holdings in Snap-On by 4.3% in the first quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after purchasing an additional 32 shares during the period. TrinityPoint Wealth LLC grew its holdings in Snap-On by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after purchasing an additional 33 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Snap-On by 5.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock valued at $234,000 after purchasing an additional 34 shares during the period. Finally, Canandaigua National Trust Co of Florida grew its holdings in Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after purchasing an additional 37 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Trading Up 0.2%

NYSE SNA traded up $0.63 on Wednesday, reaching $323.27. 46,315 shares of the company were exchanged, compared to its average volume of 365,402. The business's fifty day moving average price is $324.38 and its 200 day moving average price is $323.03. The stock has a market capitalization of $16.86 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a fifty-two week low of $269.58 and a fifty-two week high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share 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 analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.07 earnings per share. Analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $2.14 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. Snap-On's payout ratio is currently 45.65%.

Analyst Ratings Changes

Several research firms have recently weighed in on SNA. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Bank of America raised their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Tigress Financial raised their target price on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Snap-On has a consensus rating of "Moderate Buy" and an average price target of $357.00.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 in the last 90 days. Company insiders own 3.90% of the company's stock.

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.