Natixis Advisors LLC Boosts Stock Position in Snap-On Incorporated $SNA

Key Points

• Natixis Advisors LLC increased its Snap‑On stake by 22.4% in Q3, adding 18,943 shares to hold 103,357 shares worth about $35.82 million (roughly 0.20% of the company).
• Other institutional activity included First Trust Advisors boosting holdings 40.7% to 1.89M shares and Norges Bank initiating a ~$168M stake, leaving institutional investors with about 84.88% ownership of Snap‑On.
• Snap‑On beat quarterly EPS estimates ($4.94 vs. $4.86), pays a quarterly dividend of $2.44 (annualized $9.76, ~2.6% yield), and has a consensus analyst target of $377.33 with an average rating of "Moderate Buy".

Natixis Advisors LLC increased its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 22.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,357 shares of the company's stock after buying an additional 18,943 shares during the quarter. Natixis Advisors LLC owned about 0.20% of Snap-On worth $35,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its holdings in Snap-On by 40.7% in the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company's stock valued at $588,973,000 after acquiring an additional 547,527 shares during the last quarter. Norges Bank acquired a new stake in Snap-On during the second quarter worth $168,010,000. Victory Capital Management Inc. raised its position in Snap-On by 346.0% in the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company's stock valued at $96,850,000 after purchasing an additional 216,813 shares during the period. Rakuten Investment Management Inc. purchased a new stake in Snap-On in the third quarter valued at $61,134,000. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of Snap-On by 21,600.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company's stock valued at $51,322,000 after purchasing an additional 164,166 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SNA shares. Roth Mkm reiterated a "buy" rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research report on Friday, February 6th. Tigress Financial increased their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Wednesday, January 21st. Five 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $377.33.

Snap-On Trading Down 0.9%

Shares of NYSE SNA opened at $370.28 on Wednesday. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $19.22 billion, a PE ratio of 19.30, a PEG ratio of 2.58 and a beta of 0.78. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The stock has a fifty day simple moving average of $371.63 and a 200-day simple moving average of $350.67.

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

Snap-On Dividend Announcement

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

Insider Buying and Selling at Snap-On

In related news, SVP Timothy L. Chambers sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares of the company's stock, valued at $7,502,332.40. This represents a 29.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president owned 2,913 shares in the company, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,429 shares of company stock worth $17,598,523 over the last ninety days. Company insiders own 3.90% 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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