Corebridge Financial Inc. Sells 801 Shares of Snap-on Incorporated (NYSE:SNA)

Corebridge Financial Inc. trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,427 shares of the company's stock after selling 801 shares during the period. Corebridge Financial Inc.'s holdings in Snap-on were worth $4,219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Cerity Partners LLC boosted its holdings in shares of Snap-on by 103.5% during the third quarter. Cerity Partners LLC now owns 8,156 shares of the company's stock worth $2,363,000 after purchasing an additional 4,149 shares during the period. Private Trust Co. NA boosted its stake in shares of Snap-on by 38.2% during the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company's stock valued at $63,000 after buying an additional 60 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Snap-on by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,983 shares of the company's stock valued at $12,742,000 after acquiring an additional 273 shares in the last quarter. FMR LLC increased its stake in shares of Snap-on by 16.3% in the third quarter. FMR LLC now owns 57,543 shares of the company's stock worth $16,671,000 after acquiring an additional 8,073 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Snap-on by 14.8% during the third quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company's stock worth $675,000 after acquiring an additional 300 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Snap-on Price Performance

Shares of NYSE:SNA traded up $2.68 on Wednesday, hitting $342.26. The stock had a trading volume of 302,372 shares, compared to its average volume of 341,821. The firm's 50 day moving average price is $339.60 and its 200-day moving average price is $334.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned $4.75 EPS. On average, equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's payout ratio is presently 43.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Tigress Financial boosted their price target on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Finally, Longbow Research raised 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 report on Monday. One investment 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $355.33.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company's stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by corporate insiders.

Snap-on Company 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.