Snap-On Incorporated $SNA Shares Acquired by Versor Investments LP

Key Points

• Versor Investments LP significantly increased its holdings in Snap-On Incorporated, expanding its stake by 663.6% in the first quarter, bringing its total investment to approximately $2.25 million.
• Several institutional investors, including Charles Schwab and Auto Owners Insurance Co, also raised their stakes in Snap-On, indicating strong institutional support with 84.88% of the stock owned by such entities.
• Snap-On recently announced a quarterly dividend of $2.14 per share, reflecting a strong commitment to returning value to shareholders with a dividend yield of 2.6%.

Versor Investments LP boosted its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 663.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,666 shares of the company's stock after buying an additional 5,793 shares during the quarter. Versor Investments LP's holdings in Snap-On were worth $2,247,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Auto Owners Insurance Co boosted its holdings in shares of Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock worth $361,612,000 after acquiring an additional 1,070,025 shares during the period. GAMMA Investing LLC boosted its stake in Snap-On by 65,113.6% in the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock valued at $236,919,000 after purchasing an additional 701,925 shares during the period. First Trust Advisors LP lifted its holdings in shares of Snap-On by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after buying an additional 411,317 shares in the last quarter. Northern Trust Corp grew its stake in shares of Snap-On by 22.4% in the fourth quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after acquiring an additional 145,861 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Snap-On in the first quarter valued at about $45,711,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Stock Performance

Shares of SNA stock traded down $1.4890 on Wednesday, hitting $323.2710. 229,019 shares of the stock were exchanged, compared to its average volume of 381,331. The firm has a market capitalization of $16.86 billion, a PE ratio of 17.24, a P/E/G ratio of 2.25 and a beta of 0.76. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The firm's 50 day moving average is $319.68 and its two-hundred day moving average is $324.67. Snap-On Incorporated has a one year low of $268.90 and a one year high of $373.89.

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

Snap-On Announces Dividend

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

Analyst Ratings Changes

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

Insider Transactions at Snap-On

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director directly owned 8,030 shares of the company's stock, valued at $2,568,957.60. The trade was a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were 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 owned 111,667 shares in the company, valued at $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,160 shares of company stock valued at $16,650,792 over 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.