Snap-On Incorporated $SNA Shares Acquired by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas lifted its position in shares of Snap-On Incorporated (NYSE:SNA) by 28.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,346 shares of the company’s stock after buying an additional 2,314 shares during the period. Oddo BHF Asset Management Sas’ holdings in Snap-On were worth $3,565,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. DNB Asset Management AS boosted its position in Snap-On by 65.5% during the 3rd quarter. DNB Asset Management AS now owns 23,702 shares of the company’s stock worth $8,213,000 after purchasing an additional 9,377 shares during the period. Pensionfund Sabic purchased a new stake in Snap-On during the 4th quarter worth $1,206,000. First Horizon Corp purchased a new stake in Snap-On during the 4th quarter worth $4,068,000. Bahl & Gaynor Inc. boosted its position in Snap-On by 1.3% during the 3rd quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company’s stock worth $132,126,000 after purchasing an additional 4,932 shares during the period. Finally, Nordea Investment Management AB boosted its position in Snap-On by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock worth $454,206,000 after purchasing an additional 51,486 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Performance

NYSE:SNA opened at $389.15 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The firm has a 50-day moving average of $375.74 and a two-hundred day moving average of $368.01. The stock has a market cap of $20.16 billion, a P/E ratio of 20.09, a PEG ratio of 2.72 and a beta of 0.73. Snap-On Incorporated has a 1-year low of $301.82 and a 1-year high of $400.88.

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

Snap-On declared that its Board of Directors has approved a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the transaction, the chief financial officer directly owned 119,488 shares in the company, valued at $43,874,798.72. The trade was a 4.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 35,117 shares of company stock worth $13,192,082. 3.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNA shares. 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 report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Barclays started coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Tigress Financial upped their price target 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. Finally, Roth Mkm reaffirmed a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $387.67.

Snap-On Company 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.