BNP Paribas Financial Markets Lowers Stock Holdings in Snap-On Incorporated $SNA

BNP Paribas Financial Markets lowered its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 42.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 55,709 shares of the company’s stock after selling 40,663 shares during the period. BNP Paribas Financial Markets’ holdings in Snap-On were worth $19,197,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Snap-On during the fourth quarter worth approximately $25,000. GoalVest Advisory LLC purchased a new position in Snap-On during the fourth quarter worth approximately $28,000. Montag A & Associates Inc. boosted its position in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 28 shares in the last quarter. Finally, United Community Bank purchased a new position in Snap-On during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Tigress Financial increased their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Robert W. Baird increased their target price on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 1,330 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $379.27, for a total value of $504,429.10. Following the completion of the sale, the chief financial officer owned 118,158 shares of the company’s stock, valued at approximately $44,813,784.66. This trade represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the sale, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This 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. In the last ninety days, insiders sold 30,439 shares of company stock valued at $11,393,700. Insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Shares of Snap-On stock opened at $379.67 on Friday. The business has a 50 day simple moving average of $372.58 and a two-hundred day simple moving average of $365.28. Snap-On Incorporated has a 12 month low of $301.82 and a 12 month high of $400.88. The stock has a market capitalization of $19.67 billion, a P/E ratio of 19.60, a PEG ratio of 2.67 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 posted its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $4.51 EPS. Snap-On’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts predict that Snap-On Incorporated will post 19.7 EPS 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. Investors of record on Wednesday, May 20th will be issued a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Snap-On announced that its board has approved a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.