Quest Partners LLC Takes $1.79 Million Position in Snap-on Incorporated (NYSE:SNA)

Quest Partners LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,208 shares of the company's stock, valued at approximately $1,793,000. Snap-on comprises approximately 0.4% of Quest Partners LLC's investment portfolio, making the stock its 14th largest holding.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Snap-on by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company's stock valued at $325,509,000 after buying an additional 26,260 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Snap-on by 52.8% in the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company's stock worth $249,743,000 after acquiring an additional 298,727 shares during the period. Northern Trust Corp increased its position in shares of Snap-on by 4.6% during the third quarter. Northern Trust Corp now owns 834,148 shares of the company's stock valued at $212,758,000 after purchasing an additional 36,556 shares during the period. Earnest Partners LLC raised its stake in shares of Snap-on by 5.8% in the third quarter. Earnest Partners LLC now owns 775,131 shares of the company's stock valued at $197,705,000 after purchasing an additional 42,701 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Snap-on by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company's stock worth $223,304,000 after purchasing an additional 3,449 shares during the period. Institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company's stock, valued at $957,988.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares of the company's stock, valued at $213,420,264.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares of the company's stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. In the last three months, insiders sold 49,930 shares of company stock valued at $14,089,523. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNA. Barrington Research restated an "outperform" rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Tigress Financial reissued a "buy" rating and issued a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Roth Mkm reaffirmed a "buy" rating and set a $324.00 price objective on shares of Snap-on in a report on Thursday, April 18th. Finally, Robert W. Baird dropped their target price on Snap-on from $295.00 to $282.00 and set a "neutral" rating for the company in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.75.

Snap-on Price Performance

NYSE:SNA traded up $0.34 during mid-day trading on Monday, reaching $279.33. 215,360 shares of the company were exchanged, compared to its average volume of 302,598. Snap-on Incorporated has a 12 month low of $247.68 and a 12 month high of $298.49. The stock has a market cap of $14.73 billion, a PE ratio of 14.66, a PEG ratio of 1.93 and a beta of 1.00. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $283.33 and a 200 day moving average of $281.32.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. Snap-on's revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.60 EPS. On average, research analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on's dividend payout ratio is 39.03%.

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.