Snap-On Incorporated $SNA Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,141 shares of the company’s stock after buying an additional 2,936 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Snap-On worth $36,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SNA. Intech Investment Management LLC increased its position in shares of Snap-On by 74.2% in the 3rd quarter. Intech Investment Management LLC now owns 4,533 shares of the company’s stock valued at $1,571,000 after purchasing an additional 1,931 shares during the last quarter. US Bancorp DE lifted its position in shares of Snap-On by 1.0% during the 3rd quarter. US Bancorp DE now owns 33,088 shares of the company’s stock worth $11,467,000 after purchasing an additional 335 shares during the last quarter. MAI Capital Management grew its stake in shares of Snap-On by 251.8% during the third quarter. MAI Capital Management now owns 3,124 shares of the company’s stock worth $1,083,000 after purchasing an additional 2,236 shares in the last quarter. Affinity Investment Advisors LLC increased its holdings in Snap-On by 8.0% in the third quarter. Affinity Investment Advisors LLC now owns 1,236 shares of the company’s stock valued at $428,000 after buying an additional 92 shares during the last quarter. Finally, Mufg Securities Americas Inc. raised its stake in Snap-On by 21.5% in the third quarter. Mufg Securities Americas Inc. now owns 1,407 shares of the company’s stock valued at $488,000 after buying an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. The trade was a 32.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,855 shares of company stock valued at $27,629,827 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Snap-On Trading Down 0.4%

NYSE:SNA opened at $384.95 on Monday. The company has a market capitalization of $19.98 billion, a PE ratio of 20.06, a P/E/G ratio of 2.66 and a beta of 0.78. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13. The stock’s 50 day moving average price is $367.79 and its 200 day moving average price is $348.00. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.82 earnings per share. On average, research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SNA shares. Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Tigress Financial increased their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday. Finally, Roth Mkm restated a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $377.33.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.