Mitsubishi UFJ Trust & Banking Corp Cuts Stake in Snap-on Incorporated (NYSE:SNA)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,482 shares of the company's stock after selling 1,290 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.13% of Snap-on worth $22,569,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SNA. Greenleaf Trust boosted its position in shares of Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after acquiring an additional 30 shares during the last quarter. UMB Bank n.a. boosted its holdings in 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 during the last quarter. WCM Investment Management LLC grew its stake in shares of Snap-on by 4.5% in the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company's stock valued at $247,000 after buying an additional 31 shares during the period. New York Life Investment Management LLC raised its position in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after buying an additional 31 shares during the period. Finally, Inspire Advisors LLC lifted its position in Snap-on by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after buying an additional 34 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

SNA has been the topic of several recent research reports. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Monday. Finally, Barrington Research reissued an "outperform" rating and issued 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 assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Snap-on has a consensus rating of "Moderate Buy" and an average target price of $355.33.

Snap-on Stock Up 1.9 %

SNA stock traded up $6.16 during trading on Monday, hitting $335.47. 144,205 shares of the company's stock were exchanged, compared to its average volume of 340,571. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $340.12 and a two-hundred day moving average price of $333.92.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the business posted $4.75 earnings per share. As a group, equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. 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 payout ratio is currently 43.90%.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were 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 $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 36,011 shares of company stock worth $12,116,859 in the last quarter. 3.90% of the stock is owned by insiders.

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.