Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Snap-On Incorporated $SNA

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Snap-On Incorporated (NYSE:SNA) by 2.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 105,141 shares of the company’s stock after buying an additional 2,936 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Snap-On were worth $36,435,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Tobam acquired a new position in shares of Snap-On during the second quarter worth about $29,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. SJS Investment Consulting Inc. increased its position in Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after purchasing an additional 94 shares during the period. Quent Capital LLC purchased a new position in shares of Snap-On during the 3rd quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Snap-On in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Snap-On Trading Down 0.4%

Shares of SNA opened at $384.95 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $390.13. The stock has a market cap of $19.98 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The firm has a 50 day simple moving average of $367.79 and a 200-day simple moving average of $348.00.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.Snap-On’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.82 EPS. Equities analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

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

Insider Activity

In related news, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the transaction, the vice president owned 4,158 shares of the company’s stock, valued at approximately $1,448,106.66. The trade was a 32.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,855 shares of company stock worth $27,629,827 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

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.