KBC Group NV Increases Position in Snap-On Incorporated $SNA

Key Points

• KBC Group NV increased its stake in Snap‑On by 317.2% in Q4, buying 59,463 additional shares to hold 78,212 shares worth about $26.95 million (≈0.15% of the company).
• Snap‑On beat quarterly EPS expectations with $4.94 (vs. $4.86), posted $1.23 billion in revenue (up 2.8% YoY), has a market cap near $19.8 billion, a P/E of ~19.8, and pays a $9.76 annual dividend (≈2.6% yield).
• Insiders have sold about 39,650 shares (~$15.2 million) in the past 90 days (including sales by the CFO and an SVP), while institutional investors own roughly 84.9% of the stock and corporate insiders own 3.8%.

KBC Group NV boosted its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 317.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,212 shares of the company's stock after acquiring an additional 59,463 shares during the period. KBC Group NV owned 0.15% of Snap-On worth $26,952,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp grew its stake in Snap-On by 1.6% during the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company's stock valued at $777,603,000 after acquiring an additional 36,130 shares in the last quarter. First Trust Advisors LP grew its stake in Snap-On by 1.3% during the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company's stock valued at $664,149,000 after acquiring an additional 23,863 shares in the last quarter. Nordea Investment Management AB grew its stake in Snap-On by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock valued at $454,206,000 after acquiring an additional 51,486 shares in the last quarter. Bank of America Corp DE grew its stake in Snap-On by 2.0% during the 3rd quarter. Bank of America Corp DE now owns 933,495 shares of the company's stock valued at $323,484,000 after acquiring an additional 18,549 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Snap-On by 17.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company's stock valued at $249,073,000 after acquiring an additional 119,089 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Stock Performance

Snap-On stock opened at $380.46 on Friday. The firm has a 50 day simple moving average of $373.90 and a 200-day simple moving average of $357.38. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $390.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.53 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the prior year, the company posted $4.82 EPS. The business's revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were paid a $2.44 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio is 50.86%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNA. Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Roth Mkm reaffirmed a "buy" rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 price objective on shares of Snap-On in a research note on Friday, February 6th. Tigress Financial increased their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $372.80.

Insider Activity

In related news, CFO Aldo John Pagliari sold 7,043 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares of the company's stock, valued at approximately $44,769,765.15. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the transaction, the senior vice president directly owned 19,480 shares of the company's stock, valued at $7,502,332.40. The trade was a 29.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 39,650 shares of company stock worth $15,210,959. Corporate insiders own 3.80% of the company's stock.

About Snap-On

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.

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