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

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Snap-on Incorporated (NYSE:SNA) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,003 shares of the company’s stock after acquiring an additional 727 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Snap-on were worth $43,327,000 as of its most recent filing with the Securities & Exchange Commission.

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

Snap-on Stock Up 2.7 %

NYSE SNA opened at $268.80 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.81. The stock 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 1 year low of $245.73 and a 1 year high of $298.49. The business’s 50-day moving average is $283.78 and its 200 day moving average is $278.27.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. Snap-on’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $4.60 earnings per share. Sell-side analysts forecast that Snap-on Incorporated will post 19.22 earnings per share for the current year.

Snap-on Dividend Announcement

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

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of Snap-on stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the sale, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at approximately $26,014,052.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNA. Robert W. Baird reduced their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $301.40.

Snap-on 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.