Quadrature Capital Ltd Sells 1,094 Shares of Snap-on Incorporated (NYSE:SNA)

Quadrature Capital Ltd cut its position in shares of Snap-on Incorporated (NYSE:SNA) by 34.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,110 shares of the company’s stock after selling 1,094 shares during the quarter. Quadrature Capital Ltd’s holdings in Snap-on were worth $611,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Aurora Investment Counsel boosted its stake in shares of Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after acquiring an additional 32 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after purchasing an additional 32 shares during the last quarter. Tradition Wealth Management LLC grew its position in shares of Snap-on by 3.1% in the 3rd quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after buying an additional 35 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Snap-on by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock worth $442,000 after buying an additional 37 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of SNA opened at $357.77 on Monday. The company has a market capitalization of $18.79 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.40 and a beta of 0.98. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $334.08 and a 200 day moving average of $294.41.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. As a group, equities research analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Wall Street Analyst Weigh In

SNA has been the subject of several research analyst reports. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Transactions at Snap-on

In other news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares in the company, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock worth $7,898,701 over the last three months. 4.10% of the stock is currently owned by company insiders.

About Snap-on

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.