QRG Capital Management Inc. Increases Stake in Snap-on Incorporated (NYSE:SNA)

QRG Capital Management Inc. raised its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,386 shares of the company's stock after buying an additional 7,351 shares during the period. QRG Capital Management Inc. owned 0.20% of Snap-on worth $36,116,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Allspring Global Investments Holdings LLC grew its holdings in shares of Snap-on by 122.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,480 shares of the company's stock valued at $2,746,000 after acquiring an additional 5,212 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Snap-on by 19.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,589 shares of the company's stock valued at $4,515,000 after purchasing an additional 2,485 shares during the last quarter. abrdn plc raised its stake in shares of Snap-on by 5.9% during the 3rd quarter. abrdn plc now owns 22,797 shares of the company's stock worth $6,561,000 after purchasing an additional 1,272 shares during the period. First Trust Direct Indexing L.P. raised its stake in shares of Snap-on by 11.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,348 shares of the company's stock worth $391,000 after purchasing an additional 140 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new position in shares of Snap-on in the 3rd quarter worth about $214,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

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Snap-on Stock Performance

Shares of SNA traded down $7.72 during mid-day trading on Monday, hitting $333.45. The stock had a trading volume of 394,973 shares, compared to its average volume of 387,323. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The business has a fifty day moving average price of $343.25 and a 200-day moving average price of $326.29. The firm has a market cap of $17.47 billion, a P/E ratio of 17.10, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company posted $4.75 EPS. On average, equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on's dividend payout ratio (DPR) is currently 43.90%.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares of the company's stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now directly owns 100,668 shares of the company's stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,503 shares of company stock worth $15,906,074. 4.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. One 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $345.40.

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.