First Citizens Bank & Trust Co. Boosts Stake in Snap-On Incorporated $SNA

First Citizens Bank & Trust Co. grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,140 shares of the company’s stock after acquiring an additional 1,404 shares during the quarter. First Citizens Bank & Trust Co. owned about 0.08% of Snap-On worth $13,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. Vanguard Group Inc. increased its position in Snap-On by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after purchasing an additional 80,422 shares in the last quarter. State Street Corp grew its stake in Snap-On by 0.6% during the second quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after buying an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after acquiring an additional 36,421 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Snap-On by 40.7% in the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after acquiring an additional 547,527 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after acquiring an additional 36,964 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Trading Down 0.8%

NYSE:SNA opened at $369.19 on Friday. The stock has a market cap of $19.20 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.80. Snap-On Incorporated has a one year low of $289.81 and a one year high of $375.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The business’s 50-day simple moving average is $349.70 and its 200 day simple moving average is $338.39.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were paid a dividend of $2.44 per share. This is an increase from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date was Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 6,779 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the transaction, the chief financial officer directly owned 111,888 shares in the company, valued at $39,406,953.60. This represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president directly owned 4,158 shares of the company’s stock, valued at approximately $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 40,036 shares of company stock valued at $13,710,988. Corporate insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Tigress Financial raised their target price on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Roth Mkm reissued a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Finally, Robert W. Baird upped their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

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.