Mitsubishi UFJ Asset Management Co. Ltd. Buys 3,863 Shares of Snap-on Incorporated (NYSE:SNA)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,375 shares of the company's stock after purchasing an additional 3,863 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Snap-on worth $28,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Greenleaf Trust increased its holdings in Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after buying an additional 30 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC raised its stake in Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after acquiring an additional 31 shares during the period. New York Life Investment Management LLC lifted its holdings in Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after purchasing an additional 31 shares in the last quarter. Finally, Inspire Advisors LLC boosted its position in shares of Snap-on by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock worth $1,148,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Remove Ads

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. 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 three months. Insiders own 3.90% of the company's stock.

Snap-on Price Performance

Shares of Snap-on stock traded up $2.68 during trading on Wednesday, reaching $342.26. 302,372 shares of the stock traded hands, compared to its average volume of 341,821. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The business has a fifty day simple moving average of $339.60 and a two-hundred day simple moving average of $334.75. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results 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 quarter in the previous year, the firm posted $4.75 earnings per share. Sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.50%. Snap-on's payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SNA shares. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Monday. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $355.33.

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.