Natixis Advisors LLC Sells 573 Shares of Snap-on Incorporated (NYSE:SNA)

Natixis Advisors LLC cut its position in Snap-on Incorporated (NYSE:SNA) by 0.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 63,644 shares of the company’s stock after selling 573 shares during the period. Natixis Advisors LLC owned approximately 0.12% of Snap-on worth $16,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Earnest Partners LLC raised its stake in shares of Snap-on by 9.9% in the first quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock worth $275,399,000 after purchasing an additional 83,686 shares during the last quarter. Nordea Investment Management AB lifted its stake in Snap-on by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after acquiring an additional 27,429 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Snap-on by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock worth $223,304,000 after purchasing an additional 3,449 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Snap-on by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after buying an additional 16,972 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Snap-on by 0.5% during the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after buying an additional 3,535 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 0.2 %

SNA opened at $279.07 on Thursday. The stock has a market cap of $14.70 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The firm’s fifty day moving average is $272.71 and its 200 day moving average is $276.26. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company 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 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.86 per share. The ex-dividend date is Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.67%. Snap-on’s dividend payout ratio is 39.03%.

Snap-on announced that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SNA shares. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Tigress Financial restated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. Finally, Robert W. Baird lowered their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $315.00.

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 value of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The transaction was disclosed in a 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 stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at $204,138,160.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The disclosure for this sale can be found here. Insiders sold a total of 29,804 shares of company stock worth $8,077,390 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Company 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.