AlphaCrest Capital Management LLC Raises Holdings in Snap-on Incorporated (NYSE:SNA)

AlphaCrest Capital Management LLC grew its position in shares of Snap-on Incorporated (NYSE:SNAGet Rating) by 91.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,620 shares of the company’s stock after purchasing an additional 4,606 shares during the period. AlphaCrest Capital Management LLC’s holdings in Snap-on were worth $1,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNA. Wellington Management Group LLP grew its position in shares of Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock valued at $49,551,000 after purchasing an additional 237,843 shares in the last quarter. First Trust Advisors LP grew its position in shares of Snap-on by 14.9% during the first quarter. First Trust Advisors LP now owns 1,412,036 shares of the company’s stock valued at $290,145,000 after purchasing an additional 182,700 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Snap-on by 82.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 315,717 shares of the company’s stock valued at $62,223,000 after purchasing an additional 142,711 shares in the last quarter. Interval Partners LP purchased a new position in shares of Snap-on during the first quarter valued at about $26,820,000. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Snap-on by 287.7% in the 1st quarter. Pinebridge Investments L.P. now owns 132,278 shares of the company’s stock valued at $27,180,000 after acquiring an additional 98,156 shares during the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Snap-on in a report on Wednesday, October 12th. They issued a “buy” rating for the company.

Insiders Place Their Bets

In other Snap-on news, VP Iain Boyd sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $238.61, for a total value of $835,135.00. Following the completion of the sale, the vice president now owns 6,244 shares of the company’s stock, valued at $1,489,880.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Aldo John Pagliari sold 6,607 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the transaction, the chief financial officer now directly owns 73,114 shares of the company’s stock, valued at $16,088,004.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Iain Boyd sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $238.61, for a total transaction of $835,135.00. Following the transaction, the vice president now directly owns 6,244 shares in the company, valued at $1,489,880.84. The disclosure for this sale can be found here. Insiders sold a total of 41,683 shares of company stock valued at $9,671,092 over the last 90 days. Insiders own 4.30% of the company’s stock.

Snap-on Stock Up 0.6 %

Shares of NYSE:SNA opened at $241.17 on Thursday. The company has a current ratio of 3.29, a quick ratio of 2.33 and a debt-to-equity ratio of 0.27. Snap-on Incorporated has a 12 month low of $190.08 and a 12 month high of $242.21. The company has a 50-day moving average price of $218.56 and a 200 day moving average price of $215.67. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.10 and a beta of 1.09.

Snap-on (NYSE:SNAGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The company reported $4.14 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.29. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Snap-on had a net margin of 20.17% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.57 EPS. As a group, equities research analysts predict that Snap-on Incorporated will post 16.49 earnings per share for the current year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Monday, November 21st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $6.48 annualized dividend and a yield of 2.69%. This is an increase from Snap-on’s previous quarterly dividend of $1.42. Snap-on’s dividend payout ratio (DPR) is presently 39.25%.

Snap-on Profile

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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.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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