Snap-on Incorporated (NYSE:SNA) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 25.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,850 shares of the company's stock after acquiring an additional 4,826 shares during the period. Quantinno Capital Management LP's holdings in Snap-on were worth $6,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Snap-on during the second quarter worth about $30,000. Reston Wealth Management LLC purchased a new stake in Snap-on during the third quarter worth about $30,000. Innealta Capital LLC purchased a new stake in Snap-on during the second quarter worth about $32,000. Massmutual Trust Co. FSB ADV boosted its holdings in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock worth $37,000 after buying an additional 44 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Snap-on during the third quarter worth about $39,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 1,750 shares of the company's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares of the company's stock, valued at approximately $1,061,940. This represents a 35.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company's stock, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,031 shares of company stock valued at $7,898,701. Insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNA. Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Tigress Financial upped their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. Bank of America upped their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. Finally, Robert W. Baird upped their price target 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $345.40.

Snap-on Trading Down 1.0 %

Shares of NYSE:SNA traded down $3.59 during trading on Friday, reaching $357.77. The stock had a trading volume of 432,972 shares, compared to its average volume of 348,316. The business has a fifty day moving average price of $334.08 and a 200-day moving average price of $294.16. 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 stock has a market cap of $18.79 billion, a P/E ratio of 18.41, a PEG ratio of 2.40 and a beta of 0.98. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts' consensus estimates of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. As a group, 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. Investors of record on Thursday, November 21st will be given a dividend of $2.14 per share. This is a positive change from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.39%. Snap-on's dividend payout ratio is 44.06%.

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.