M&T Bank Corp Sells 3,198 Shares of Snap-on Incorporated (NYSE:SNA)

M&T Bank Corp decreased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 11.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,478 shares of the company's stock after selling 3,198 shares during the quarter. M&T Bank Corp's holdings in Snap-on were worth $8,309,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Aurora Investment Counsel boosted its position in Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company's stock worth $1,028,000 after purchasing an additional 30 shares during the period. Greenleaf Trust lifted its stake 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 buying an additional 30 shares in 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 worth $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC grew its stake in 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 in the last quarter. Finally, New York Life Investment Management LLC raised its holdings in 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 acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Price Performance

Shares of Snap-on stock traded down $2.04 during trading on Monday, hitting $340.01. The stock had a trading volume of 414,094 shares, compared to its average volume of 325,819. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The business's 50-day moving average is $342.21 and its 200 day moving average is $328.33. 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 firm has a market cap of $17.81 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.21 and a beta of 0.99.

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Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 prior year, the firm posted $4.75 earnings per share. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on's payout ratio is 43.90%.

Insider Activity

In other news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,220 shares of company stock worth $6,906,802. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the subject of a number of analyst reports. Tigress Financial raised 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. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $346.40.

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.