Snap-on Incorporated (NYSE:SNA) Position Increased by Natixis Advisors LLC

Natixis Advisors LLC lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 66,438 shares of the company’s stock after acquiring an additional 2,794 shares during the period. Natixis Advisors LLC’s holdings in Snap-on were worth $19,248,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC bought a new position in shares of Snap-on during the second quarter worth about $4,571,000. Asset Management One Co. Ltd. lifted its holdings in Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after purchasing an additional 67 shares during the period. SG Americas Securities LLC lifted its holdings in Snap-on by 32.7% in the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after purchasing an additional 3,238 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Snap-on in the second quarter worth about $3,653,000. Finally, Victory Capital Management Inc. lifted its holdings in Snap-on by 21.5% in the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock worth $45,999,000 after purchasing an additional 28,049 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 0.7 %

NYSE:SNA opened at $354.74 on Wednesday. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 2.36 and a beta of 0.96. The company’s 50 day moving average is $312.62 and its 200-day moving average is $286.42. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $365.35. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Equities analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.41%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s payout ratio is currently 38.29%.

Snap-on declared that its board has authorized a share buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

SNA has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Roth Mkm upped their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research upped their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Bank of America upped their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Finally, Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $345.40.

Insider Activity at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. This represents a 34.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,190 shares of company stock worth $8,212,284 over the last three months. Company insiders own 4.10% of the company’s stock.

About Snap-on

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.