AG2R LA Mondiale Gestion D Actifs Buys Shares of 2,869 Snap-On Incorporated $SNA

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new position of 2,869 shares in Snap-On Incorporated, valued at approximately $920,000, indicating growing interest from institutional investors.
• Snap-On reported $4.72 EPS for the last quarter, exceeding expectations, along with revenues of $1.18 billion, reflecting stable financial performance despite a slight year-over-year earnings decline.
• The company has declared a quarterly dividend of $2.14 per share, representing a 2.6% yield, demonstrating its commitment to returning value to shareholders.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,869 shares of the company's stock, valued at approximately $920,000.

A number of other hedge funds have also made changes to their positions in SNA. Auto Owners Insurance Co increased its holdings in shares of Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Snap-On by 65,113.6% during the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock valued at $236,919,000 after acquiring an additional 701,925 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Snap-On by 54.3% during the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company's stock valued at $229,793,000 after acquiring an additional 239,908 shares during the last quarter. Nuveen LLC acquired a new position in shares of Snap-On during the 1st quarter valued at about $45,711,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Snap-On by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock valued at $647,593,000 after acquiring an additional 115,306 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by insiders.

Snap-On Price Performance

SNA traded down $5.88 during trading on Tuesday, hitting $333.84. The company's stock had a trading volume of 409,239 shares, compared to its average volume of 220,649. The firm's 50 day moving average price is $325.74 and its two-hundred day moving average price is $322.82. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $279.74 and a 12 month high of $373.89. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $5.07 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's payout ratio is presently 45.65%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNA. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Tigress Financial lifted their price objective on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, Bank of America raised their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $357.00.

About Snap-On

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.