Mitsubishi UFJ Trust & Banking Corp Sells 1,290 Shares of Snap-on Incorporated (NYSE:SNA)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,482 shares of the company’s stock after selling 1,290 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Snap-on were worth $22,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Bleakley Financial Group LLC bought a new position in shares of Snap-on during the 4th quarter valued at about $512,000. Vest Financial LLC lifted its stake in Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after buying an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after buying an additional 1,605 shares during the period. World Investment Advisors LLC bought a new stake in shares of Snap-on during the third quarter worth $19,291,000. Finally, Avanza Fonder AB acquired a new stake in shares of Snap-on during the fourth quarter worth $1,936,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research analyst reports. Tigress Financial upped their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $346.40.

Snap-on Stock Performance

Shares of SNA opened at $335.40 on Friday. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The firm has a fifty day simple moving average of $340.50 and a 200 day simple moving average of $332.75. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the business posted $4.75 earnings per share. Research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is 43.90%.

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.