Axa S.A. Acquires 58,343 Shares of Snap-On Incorporated $SNA

Axa S.A. grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 310.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 77,132 shares of the company’s stock after purchasing an additional 58,343 shares during the quarter. Axa S.A.’s holdings in Snap-On were worth $24,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC purchased a new position in Snap-On during the second quarter valued at $434,938,000. First Trust Advisors LP increased its holdings in shares of Snap-On by 40.7% in the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock worth $588,973,000 after purchasing an additional 547,527 shares during the last quarter. Norges Bank bought a new stake in shares of Snap-On in the second quarter worth about $168,010,000. Ameriprise Financial Inc. lifted its position in shares of Snap-On by 54.3% in the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock worth $229,793,000 after buying an additional 239,908 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Snap-On during the second quarter valued at approximately $56,595,000. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Tigress Financial lifted their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Roth Capital reaffirmed a “buy” rating and set a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 3,091 shares of Snap-On stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $346.80, for a total transaction of $1,071,958.80. Following the completion of the sale, the chief financial officer directly owned 108,648 shares in the company, valued at approximately $37,679,126.40. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,257 shares of company stock valued at $11,323,424 over the last quarter. 3.90% of the stock is currently owned by insiders.

Snap-On Trading Up 1.7%

Shares of SNA opened at $348.85 on Thursday. The company’s fifty day simple moving average is $339.69 and its 200-day simple moving average is $329.51. The company has a market cap of $18.14 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.59 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $365.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $4.70 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were issued a $2.44 dividend. The ex-dividend date was Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

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.