Snap-On Incorporated $SNA Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC boosted its stake in Snap-On by 5.8% in the fourth quarter, adding 6,034 shares to reach 109,391 shares valued at about $37.7 million.
• Analyst sentiment remains generally positive, with several firms raising price targets and the consensus rating at “Moderate Buy” with an average target price of $387.67.
• Snap-On reported mixed quarterly results: EPS missed estimates slightly at $4.69 versus $4.75 expected, but revenue topped forecasts at $1.21 billion and rose 5.8% year over year.

Natixis Advisors LLC increased its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,391 shares of the company's stock after purchasing an additional 6,034 shares during the period. Natixis Advisors LLC owned 0.21% of Snap-On worth $37,696,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SNA. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On in the 4th quarter worth about $25,000. GoalVest Advisory LLC acquired a new position in shares of Snap-On during the 4th quarter valued at about $28,000. Montag A & Associates Inc. increased its stake in shares of Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock worth $36,000 after acquiring an additional 28 shares during the period. Finally, United Community Bank acquired a new stake in shares of Snap-On in the fourth quarter worth approximately $43,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SNA shares. Robert W. Baird boosted their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Tigress Financial boosted their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Wall Street Zen downgraded Snap-On from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Roth Mkm reissued a "buy" rating and set a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Finally, Barclays started coverage on Snap-On in a research report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 target price for the company. Five 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $387.67.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,713 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the sale, the chief financial officer owned 119,488 shares in the company, valued at $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer owned 856,918 shares of the company's stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% of the company's stock.

Snap-On Price Performance

Shares of NYSE SNA opened at $377.86 on Thursday. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.62 and a beta of 0.73. Snap-On Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $372.03 and a two-hundred day moving average of $364.83.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm earned $4.51 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On's dividend payout ratio is currently 50.39%.

Snap-On announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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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