Sumitomo Mitsui Trust Holdings Inc. Buys 727 Shares of Snap-on Incorporated (NYSE:SNA)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,003 shares of the company’s stock after acquiring an additional 727 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of Snap-on worth $43,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new position in Snap-on during the 4th quarter worth $924,000. Simplicity Solutions LLC acquired a new stake in shares of Snap-on during the 4th quarter valued at $254,000. AlphaQ Advisors LLC boosted its holdings in shares of Snap-on by 33.2% during the 4th quarter. AlphaQ Advisors LLC now owns 1,638 shares of the company’s stock valued at $473,000 after acquiring an additional 408 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Snap-on during the 4th quarter valued at $248,000. Finally, Cerity Partners LLC boosted its holdings in shares of Snap-on by 275.7% during the 4th quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock valued at $2,292,000 after acquiring an additional 5,825 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold 47,368 shares of company stock valued at $13,399,449 in the last ninety days. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

SNA has been the topic of several recent research reports. Robert W. Baird cut their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday. Barrington Research reissued an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Monday, April 15th. Tigress Financial reissued a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Friday, February 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $301.40.

Snap-on Stock Up 2.7 %

Shares of SNA opened at $268.80 on Friday. The company has a market capitalization of $14.20 billion, a PE ratio of 14.10, a PEG ratio of 1.87 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $245.73 and a 12 month high of $298.49. The stock’s 50-day moving average price is $283.78 and its two-hundred day moving average price is $278.27. The company has a current ratio of 3.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.60 EPS. On average, analysts anticipate that Snap-on Incorporated will post 19.22 EPS for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is 39.03%.

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.