Snap-On Incorporated $SNA Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Snap-On Incorporated (NYSE:SNA) by 45.6% during the third quarter, Holdings Channel reports. The fund owned 89,625 shares of the company’s stock after buying an additional 28,069 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Snap-On were worth $31,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BankPlus Trust Department lifted its position in Snap-On by 5.9% during the third quarter. BankPlus Trust Department now owns 541 shares of the company’s stock valued at $187,000 after purchasing an additional 30 shares during the period. Nisa Investment Advisors LLC grew its position in Snap-On by 0.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock worth $2,546,000 after purchasing an additional 31 shares during the period. Cardinal Capital Management raised its stake in shares of Snap-On by 0.3% during the 3rd quarter. Cardinal Capital Management now owns 11,197 shares of the company’s stock valued at $3,880,000 after buying an additional 32 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Snap-On by 13.5% in the 2nd quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock valued at $86,000 after buying an additional 33 shares during the period. Finally, PAX Financial Group LLC boosted its stake in shares of Snap-On by 5.4% in the second quarter. PAX Financial Group LLC now owns 663 shares of the company’s stock worth $206,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Roth Mkm reiterated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Tigress Financial raised their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Robert W. Baird lifted their target price on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 6,779 shares of Snap-On stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the sale, the chief financial officer owned 111,888 shares in the company, valued at $39,406,953.60. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at $280,261,350.60. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is currently owned by company insiders.

Snap-On Trading Down 0.8%

Shares of SNA stock opened at $369.19 on Monday. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $375.17. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The stock has a 50 day simple moving average of $349.70 and a 200-day simple moving average of $338.53.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a yield of 2.6%. Snap-On’s payout ratio is 51.18%.

Snap-On Profile

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.