Natixis Advisors LLC Has $37.70 Million Stock Position in Snap-On Incorporated $SNA

Natixis Advisors LLC increased its holdings in Snap-On Incorporated (NYSE:SNA) by 5.8% in the 4th quarter, Holdings Channel reports. The fund owned 109,391 shares of the company’s stock after purchasing an additional 6,034 shares during the period. Natixis Advisors LLC’s holdings in Snap-On were worth $37,696,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in Snap-On during the 4th quarter valued at about $210,814,000. Victory Capital Management Inc. lifted its position in shares of Snap-On by 346.0% in the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock worth $96,850,000 after purchasing an additional 216,813 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Snap-On during the fourth quarter worth approximately $69,751,000. UBS Group AG grew its position in Snap-On by 30.7% during the fourth quarter. UBS Group AG now owns 617,620 shares of the company’s stock valued at $212,832,000 after purchasing an additional 144,926 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Snap-On by 17.5% during the second quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company’s stock valued at $249,073,000 after purchasing an additional 119,089 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNA has been the subject of a number of research analyst reports. Tigress Financial increased their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Robert W. Baird upped their price target on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Roth Mkm reissued a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Finally, Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,713 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the sale, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% of the company’s stock.

Snap-On Price Performance

NYSE SNA opened at $377.86 on Thursday. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88. The stock’s 50-day moving average is $372.03 and its two-hundred day moving average is $364.83. The firm has a market cap of $19.57 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.62 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $4.51 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On announced that its board has initiated a share buyback plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.