Snap-on Incorporated (NYSE:SNA) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its stake in Snap-on Incorporated (NYSE:SNAGet Rating) by 23.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 38,678 shares of the company’s stock after purchasing an additional 7,233 shares during the period. Truist Financial Corp owned about 0.07% of Snap-on worth $7,788,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Snap-on by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock valued at $1,308,079,000 after purchasing an additional 44,555 shares during the last quarter. Ariel Investments LLC boosted its position in Snap-on by 1.8% in the 1st quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock valued at $232,038,000 after buying an additional 20,485 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Snap-on by 6.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,006,724 shares of the company’s stock valued at $206,862,000 after buying an additional 62,813 shares during the period. Northern Trust Corp boosted its position in Snap-on by 3.6% in the 1st quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock valued at $180,298,000 after buying an additional 30,664 shares during the period. Finally, Invesco Ltd. boosted its position in Snap-on by 2.7% in the 1st quarter. Invesco Ltd. now owns 730,591 shares of the company’s stock valued at $150,121,000 after buying an additional 19,190 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 31,576 shares of Snap-on stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $233.79, for a total transaction of $7,382,153.04. Following the completion of the sale, the chief executive officer now directly owns 658,765 shares of the company’s stock, valued at approximately $154,012,669.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 31,576 shares of Snap-on stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $233.79, for a total transaction of $7,382,153.04. Following the sale, the chief executive officer now directly owns 658,765 shares in the company, valued at approximately $154,012,669.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 8,090 shares of Snap-on stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $236.77, for a total transaction of $1,915,469.30. Following the sale, the chief financial officer now owns 77,541 shares in the company, valued at $18,359,382.57. The disclosure for this sale can be found here. In the last three months, insiders sold 48,166 shares of company stock valued at $11,337,057. Insiders own 4.30% of the company’s stock.

Snap-on Price Performance

Snap-on stock opened at $244.42 on Wednesday. The stock has a market cap of $12.99 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The company has a fifty day simple moving average of $233.30 and a 200-day simple moving average of $220.87. Snap-on Incorporated has a 12-month low of $190.08 and a 12-month high of $245.56. The company has a current ratio of 3.29, a quick ratio of 2.33 and a debt-to-equity ratio of 0.27.

Snap-on (NYSE:SNAGet Rating) last released its quarterly earnings data on Thursday, October 20th. The company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.38. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Snap-on had a net margin of 20.17% and a return on equity of 20.84%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.57 EPS. Equities analysts expect that Snap-on Incorporated will post 16.49 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Monday, November 21st were given a dividend of $1.62 per share. This is a boost from Snap-on’s previous quarterly dividend of $1.42. This represents a $6.48 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, November 18th. Snap-on’s payout ratio is 39.25%.

Analyst Ratings Changes

Several brokerages have commented on SNA. StockNews.com began coverage on shares of Snap-on in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Oppenheimer cut shares of Snap-on from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 6th.

About Snap-on

(Get Rating)

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.

Featured Articles

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.