BNP Paribas Financial Markets Grows Position in Snap-On Incorporated $SNA

Key Points

• BNP Paribas Financial Markets increased its holdings in Snap-On Incorporated by 37.4%, acquiring an additional 36,643 shares, bringing its total ownership to approximately 0.26% of the company.
• Insider trading activity includes the sale of 1,090 shares by Director Karen L. Daniel and 125 shares by CFO Aldo John Pagliari, indicating a decrease in their holdings.
• Snap-On announced a quarterly dividend of $2.14 per share, with a dividend payout ratio of 45.65%, which will be paid on September 10th to stockholders of record.

BNP Paribas Financial Markets lifted its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 37.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,502 shares of the company's stock after purchasing an additional 36,643 shares during the period. BNP Paribas Financial Markets owned about 0.26% of Snap-On worth $45,329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. Horizon Investments LLC raised its stake in Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after acquiring an additional 32 shares during the period. Forvis Mazars Wealth Advisors LLC grew its holdings in Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock valued at $1,553,000 after buying an additional 32 shares in the last quarter. TrinityPoint Wealth LLC grew its holdings in Snap-On by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after buying an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock valued at $234,000 after buying an additional 34 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida grew its holdings in Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after buying an additional 37 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNA. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird upped their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Bank of America upped their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Finally, Tigress Financial upped their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $357.00.

Insiders Place Their Bets

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

Snap-On Price Performance

Shares of NYSE SNA traded down $0.12 during midday trading on Friday, hitting $328.65. 76,977 shares of the company's stock were exchanged, compared to its average volume of 369,147. Snap-On Incorporated has a 12-month low of $268.90 and a 12-month high of $373.89. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a market cap of $17.14 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.24 and a beta of 0.77. The business's fifty day moving average price is $323.60 and its two-hundred day moving average price is $323.43.

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

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's dividend payout ratio is 45.65%.

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.