Natixis Advisors LLC Has $26.69 Million Stock Position in Snap-On Incorporated (NYSE:SNA)

Key Points

• Natixis Advisors LLC increased its stake in Snap-On Incorporated by 9.3%, owning 79,204 shares worth approximately $26.69 million as of the latest reporting period.
• Snap-On's earnings surpassed expectations with $4.72 EPS for the last quarter, exceeding the consensus estimate of $4.61, and the company reported revenue of $1.18 billion.
• Several analysts have adjusted their price targets, with Barrington Research setting a target of $350.00 and Bank of America raising theirs to $285.00.

Natixis Advisors LLC boosted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,204 shares of the company's stock after purchasing an additional 6,725 shares during the quarter. Natixis Advisors LLC owned about 0.15% of Snap-On worth $26,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Snap-On by 5.5% during the 4th quarter. Wellington Management Group LLP now owns 17,220 shares of the company's stock worth $5,846,000 after acquiring an additional 901 shares during the period. Alliancebernstein L.P. raised its position in Snap-On by 6.5% during the fourth quarter. Alliancebernstein L.P. now owns 80,250 shares of the company's stock valued at $27,243,000 after purchasing an additional 4,919 shares in the last quarter. Summit Financial LLC lifted its stake in Snap-On by 24.0% during the fourth quarter. Summit Financial LLC now owns 1,299 shares of the company's stock worth $441,000 after purchasing an additional 251 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Snap-On by 92.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 2,080 shares of the company's stock valued at $706,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Snap-On by 16.5% in the 4th quarter. Franklin Resources Inc. now owns 101,375 shares of the company's stock valued at $34,415,000 after purchasing an additional 14,349 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Snap-On Stock Performance

NYSE:SNA opened at $317.56 on Friday. The stock's 50-day moving average is $318.96 and its 200-day moving average is $327.13. The stock has a market cap of $16.56 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76. Snap-On Incorporated has a 1-year low of $266.56 and a 1-year 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.

Snap-On (NYSE:SNA - Get Free Report) last announced 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% compared to the same quarter last year. During the same period last year, the company earned $5.07 EPS. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America upped 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 reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $356.17.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the transaction, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This trade 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 29,815 shares of company stock valued at $9,482,532 over the last ninety days. 3.90% of the stock is owned by company insiders.

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.

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