Sumitomo Mitsui Trust Group Inc. Sells 1,559 Shares of Snap-on Incorporated (NYSE:SNA)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,367 shares of the company's stock after selling 1,559 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Snap-on worth $46,973,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. UMB Bank n.a. boosted its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on during the 4th quarter valued at approximately $28,000. Reston Wealth Management LLC purchased a new position in shares of Snap-on during the third quarter valued at approximately $30,000. Brooklyn Investment Group purchased a new position in shares of Snap-on during the third quarter valued at approximately $39,000. Finally, nVerses Capital LLC purchased a new position in Snap-on in the 3rd quarter worth approximately $58,000. 84.88% of the stock is owned by institutional investors.

Snap-on Price Performance

SNA stock traded down $0.61 during mid-day trading on Friday, hitting $339.12. The company had a trading volume of 330,511 shares, compared to its average volume of 394,417. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $345.36 and a 200 day moving average price of $321.13.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS 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 period in the previous year, the company posted $4.75 EPS. On average, research analysts anticipate that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Monday, February 24th. Snap-on's dividend payout ratio is 43.90%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNA. Barrington Research reiterated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Monday. Bank of America boosted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research report on Friday, October 18th. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Roth Mkm upped their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap-on has an average rating of "Hold" and a consensus target price of $345.40.

Insider Activity

In related news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares of the company's stock, valued at $830,586.54. This represents a 60.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction 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 $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,643 shares of company stock worth $13,580,191. 4.10% of the stock is currently owned by corporate 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.