Qsemble Capital Management LP Purchases Shares of 1,705 Snap-on Incorporated (NYSE:SNA)

Qsemble Capital Management LP purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,705 shares of the company’s stock, valued at approximately $494,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SNA. Opal Wealth Advisors LLC bought a new position in shares of Snap-on during the 2nd quarter valued at about $30,000. Reston Wealth Management LLC bought a new position in shares of Snap-on during the 3rd quarter valued at about $30,000. Innealta Capital LLC bought a new position in shares of Snap-on during the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV increased its position in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the last quarter. Finally, Quarry LP increased its position in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNA. Robert W. Baird increased their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barrington Research raised their price target on 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 price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Finally, Roth Mkm raised their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of SNA stock opened at $369.23 on Thursday. The firm has a market cap of $19.39 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.45 and a beta of 0.96. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The business’s 50 day moving average price is $321.25 and its 200-day moving average price is $289.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18.

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

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Snap-on declared that its board has approved a share buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares in the company, valued at $1,061,940. This trade represents a 35.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,531 shares of company stock worth $6,628,691. 4.10% of the stock is currently owned by insiders.

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.