Credit Agricole S A Acquires 1,072 Shares of Snap-On Incorporated $SNA

Key Points

• Credit Agricole S A increased its stake in Snap-On Incorporated by 7.3% in the first quarter, holding 15,842 shares valued at approximately $5.34 million.
• Snap-On reported an EPS of $4.72 for its latest quarter, surpassing estimates and showing a revenue of $1.18 billion, which indicated a slight growth in revenue year-over-year.
• The company declared a quarterly dividend of $2.14 per share, with a yield of 2.6%, scheduled to be paid on September 10th to shareholders of record as of August 19th.

Credit Agricole S A lifted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 7.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,842 shares of the company's stock after purchasing an additional 1,072 shares during the quarter. Credit Agricole S A's holdings in Snap-On were worth $5,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Choreo LLC boosted its position in shares of Snap-On by 78.3% in the 1st quarter. Choreo LLC now owns 7,218 shares of the company's stock valued at $2,432,000 after purchasing an additional 3,170 shares during the period. Ethic Inc. boosted its position in shares of Snap-On by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock valued at $3,127,000 after purchasing an additional 1,445 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Snap-On in the 1st quarter valued at $218,000. OneDigital Investment Advisors LLC boosted its position in shares of Snap-On by 26.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock valued at $292,000 after purchasing an additional 181 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in shares of Snap-On by 27.4% in the 1st quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after purchasing an additional 2,932 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Stock Performance

Shares of SNA stock traded up $1.38 during trading on Wednesday, reaching $331.17. The company had a trading volume of 115,794 shares, compared to its average volume of 375,184. The firm's 50 day simple moving average is $321.03 and its two-hundred day simple moving average is $323.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. Snap-On Incorporated has a one year low of $268.90 and a one year high of $373.89. The company has a market capitalization of $17.27 billion, a PE ratio of 17.64, a PEG ratio of 2.29 and a beta of 0.76.

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 for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $5.07 EPS. The firm's revenue 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 year.

Snap-On Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have commented on SNA. Robert W. Baird raised their price objective on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Bank of America raised their price objective on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company's stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the transaction, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,160 shares of company stock valued at $16,650,792 in the last three months. Company insiders own 3.90% of the company's stock.

Snap-On 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.