Mitsubishi UFJ Trust & Banking Corp Has $22.57 Million Position in Snap-on Incorporated (NYSE:SNA)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,482 shares of the company’s stock after selling 1,290 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.13% of Snap-on worth $22,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. lifted its holdings 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 purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Snap-on in the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in shares of Snap-on in the 3rd quarter worth approximately $39,000. Finally, CoreFirst Bank & Trust bought a new stake in Snap-on during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of a number of recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $346.40.

Snap-on Trading Down 0.6 %

Shares of SNA opened at $335.40 on Friday. The stock’s fifty day simple moving average is $340.50 and its 200-day simple moving average is $332.75. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.58 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA) 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 last year, the firm posted $4.75 EPS. As a group, research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Buying and Selling at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,011 shares of company stock worth $12,116,859. Insiders own 3.90% of the company’s stock.

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.