Snap-on Incorporated (NYSE:SNA) Stake Reduced by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,089 shares of the company's stock after selling 780 shares during the period. First Citizens Bank & Trust Co. owned approximately 0.06% of Snap-on worth $10,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. UMB Bank n.a. lifted its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Snap-on in the 3rd quarter valued at about $30,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock valued at $37,000 after purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group acquired a new position in Snap-on during the 3rd quarter worth approximately $39,000. Finally, Quarry LP lifted its position in Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company's stock worth $42,000 after acquiring an additional 115 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Snap-on Stock Down 0.1 %

Shares of SNA traded down $0.48 during trading on Friday, reaching $350.33. The company's stock had a trading volume of 224,593 shares, compared to its average volume of 319,568. The company has a fifty day moving average of $350.47 and a two-hundred day moving average of $313.68. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 2.21 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.44%. This is an increase from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on's payout ratio is 44.06%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,909 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares of the company's stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,929 shares of company stock worth $15,645,074. 4.10% of the stock is currently owned by insiders.

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.