BNP Paribas Financial Markets Purchases 56,776 Shares of Snap-on Incorporated (NYSE:SNA)

BNP Paribas Financial Markets grew its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 111.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 107,724 shares of the company's stock after acquiring an additional 56,776 shares during the quarter. BNP Paribas Financial Markets owned about 0.21% of Snap-on worth $31,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SNA. Opal Wealth Advisors LLC bought a new stake in Snap-on during the second quarter worth approximately $30,000. Reston Wealth Management LLC bought a new stake in shares of Snap-on in the 3rd quarter worth $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on in the second quarter valued at $32,000. Massmutual Trust Co. FSB ADV boosted its stake in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock valued at $37,000 after buying an additional 44 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Snap-on during the third quarter worth about $39,000. Institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. The trade was a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares of the company's stock, valued at $1,061,940. This trade represents a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,531 shares of company stock valued at $6,628,691. Corporate insiders own 4.10% of the company's stock.

Snap-on Trading Up 0.1 %

SNA stock traded up $0.46 during mid-day trading on Friday, reaching $369.69. 181,224 shares of the stock traded hands, compared to its average volume of 312,268. The stock's fifty day moving average is $326.41 and its 200-day moving average is $291.25. The company has a market cap of $19.41 billion, a P/E ratio of 19.03, a P/E/G ratio of 2.44 and a beta of 0.96. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping analysts' consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, sell-side analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.32%. 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 presently 44.06%.

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

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.