QRG Capital Management Inc. Grows Holdings in Snap-on Incorporated (NYSE:SNA)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNA. UMB Bank n.a. boosted its stake in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on in the fourth quarter valued at about $28,000. Reston Wealth Management LLC purchased a new position in Snap-on in the third quarter valued at about $30,000. Brooklyn Investment Group purchased a new position in Snap-on in the third quarter valued at about $39,000. Finally, Asset Planning Inc purchased a new position in Snap-on in the fourth quarter valued at about $68,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

NYSE SNA opened at $338.70 on Thursday. The company’s 50 day moving average is $343.33 and its 200-day moving average is $324.96. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm has a market cap of $17.75 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the company earned $4.75 EPS. Sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share 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 2.53%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,503 shares of company stock valued at $15,906,074. Company insiders own 4.10% of the company’s stock.

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.