Worldquant Millennium Advisors LLC Has $4.03 Million Stake in Snap-on Incorporated (NYSE:SNA)

Worldquant Millennium Advisors LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 527.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,904 shares of the company's stock after acquiring an additional 11,687 shares during the period. Worldquant Millennium Advisors LLC's holdings in Snap-on were worth $4,028,000 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 acquired a new stake in shares of Snap-on in 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 worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on in the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Snap-on during the third quarter worth $39,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of the business's stock in a transaction dated 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 completion of the sale, the vice president now owns 2,289 shares of the company's stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Iain Boyd sold 6,044 shares of the 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 owns 10,493 shares in the company, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,031 shares of company stock worth $7,898,701. Insiders own 4.10% of the company's stock.

Snap-on Stock Performance

Shares of SNA traded down $3.59 during mid-day trading on Friday, reaching $357.77. The company's stock had a trading volume of 432,972 shares, compared to its average volume of 348,316. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The business has a 50-day simple moving average of $334.08 and a two-hundred day simple moving average of $294.29. 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 (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This is an increase from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. Snap-on's payout ratio is presently 44.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Roth Mkm upped their target price on Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Barrington Research raised their price target on Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. Finally, Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Snap-on has a consensus rating of "Hold" and a consensus price target of $345.40.

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.