Lbp Am Sa Invests $3.62 Million in Snap-On Incorporated $SNA

Key Points

• Lbp Am Sa bought a new position of 10,489 shares in Snap‑On (NYSE: SNA) in Q4, valued at approximately $3.62 million.
• Insiders sold a total of 39,650 shares worth $15.21 million in the last 90 days, including CEO Nicholas T. Pinchuk’s sale of 23,229 shares.
• Analysts' consensus is a Moderate Buy with an average target of $372.80; SNA trades near $380.46, has a P/E of about 19.8 and a 2.6% dividend yield.

Lbp Am Sa purchased a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,489 shares of the company's stock, valued at approximately $3,615,000.

Other hedge funds also recently made changes to their positions in the company. Townsend & Associates Inc grew its stake in shares of Snap-On by 1.4% in the fourth quarter. Townsend & Associates Inc now owns 53,321 shares of the company's stock valued at $19,379,000 after buying an additional 735 shares in the last quarter. Freestone Capital Holdings LLC grew its stake in shares of Snap-On by 1.5% in the fourth quarter. Freestone Capital Holdings LLC now owns 14,705 shares of the company's stock valued at $5,067,000 after buying an additional 222 shares in the last quarter. Tyche Wealth Partners LLC bought a new position in shares of Snap-On in the fourth quarter valued at $536,000. BSW Wealth Partners grew its stake in shares of Snap-On by 6.1% in the fourth quarter. BSW Wealth Partners now owns 725 shares of the company's stock valued at $250,000 after buying an additional 42 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Snap-On by 3.2% in the fourth quarter. Assetmark Inc. now owns 141,377 shares of the company's stock valued at $48,718,000 after buying an additional 4,379 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Snap-On Stock Up 3.7%

SNA stock opened at $380.46 on Friday. The company has a market cap of $19.81 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.53 and a beta of 0.77. The business 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 52 week low of $289.81 and a 52 week high of $390.13. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

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

Snap-On Dividend Announcement

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

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the transaction, the chief executive officer owned 846,562 shares of the company's stock, valued at approximately $324,538,008.32. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the sale, the senior vice president owned 19,480 shares in the company, valued at approximately $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,650 shares of company stock worth $15,210,959 in the last ninety days. Insiders own 3.80% of the company's stock.

Snap-On Company Profile

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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