Axa S.A. Raises Position in Snap-on Incorporated (NYSE:SNA)

Axa S.A. lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 60.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,062 shares of the company’s stock after buying an additional 17,419 shares during the period. Axa S.A. owned about 0.09% of Snap-on worth $12,040,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Renasant Bank boosted its stake in Snap-on by 2.3% in the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after purchasing an additional 36 shares during the period. Phillips Wealth Planners LLC grew its stake in Snap-on by 3.8% during the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock valued at $286,000 after acquiring an additional 37 shares in the last quarter. TFB Advisors LLC increased its holdings in Snap-on by 3.2% during the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares during the period. Financial Advocates Investment Management boosted its holdings in Snap-on by 1.2% in the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after purchasing an additional 39 shares during the period. Finally, Ritholtz Wealth Management raised its position in shares of Snap-on by 4.0% in the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock worth $265,000 after buying an additional 39 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,804 shares of company stock valued at $8,077,390. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Down 0.3 %

Shares of NYSE:SNA opened at $288.51 on Friday. The stock’s 50-day moving average is $278.51 and its 200 day moving average is $276.54. The company has a market cap of $15.20 billion, a PE ratio of 15.14, a P/E/G ratio of 1.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm earned $4.89 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its board has authorized a share buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.5% 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.58%. Snap-on’s dividend payout ratio is 39.03%.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Friday, September 20th. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. Robert W. Baird dropped their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $315.00.

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.