BNP Paribas Financial Markets Decreases Stake in Snap-on Incorporated (NYSE:SNA)

BNP Paribas Financial Markets reduced its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,859 shares of the company's stock after selling 9,865 shares during the quarter. BNP Paribas Financial Markets owned about 0.19% of Snap-on worth $33,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC grew its stake in Snap-on by 1.8% in the third quarter. Barclays PLC now owns 100,262 shares of the company's stock valued at $29,044,000 after purchasing an additional 1,803 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Snap-on by 15.9% in the third quarter. Franklin Resources Inc. now owns 87,026 shares of the company's stock valued at $25,812,000 after purchasing an additional 11,970 shares during the period. Principal Financial Group Inc. lifted its stake in Snap-on by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 280,593 shares of the company's stock valued at $81,289,000 after acquiring an additional 15,314 shares during the period. Diversified Trust Co acquired a new stake in Snap-on during the 4th quarter worth about $294,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Snap-on by 0.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,363 shares of the company's stock valued at $9,289,000 after acquiring an additional 169 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock worth $12,116,859 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

Snap-on Stock Down 0.4 %

Shares of NYSE:SNA traded down $1.32 during trading hours on Friday, reaching $315.63. The stock had a trading volume of 158,547 shares, compared to its average volume of 361,067. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The firm's 50 day moving average is $323.38 and its 200-day moving average is $338.95. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 2.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the company earned $4.91 EPS. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.71%. Snap-on's dividend payout ratio is presently 44.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNA shares. StockNews.com upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a research report on Wednesday. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Robert W. Baird dropped their target price on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Thursday, April 17th. Finally, Tigress Financial upped their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $350.83.

Snap-on Company Profile

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.