Mitsubishi UFJ Asset Management Co. Ltd. Purchases 3,863 Shares of Snap-on Incorporated (NYSE:SNA)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,375 shares of the company’s stock after buying an additional 3,863 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Snap-on worth $28,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenleaf Trust boosted its position in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after buying an additional 30 shares during the period. UMB Bank n.a. boosted its holdings in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. WCM Investment Management LLC grew its stake in Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares in the last quarter. New York Life Investment Management LLC increased its holdings in Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after purchasing an additional 31 shares during the period. Finally, Inspire Advisors LLC increased its holdings in Snap-on by 1.0% during the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after purchasing an additional 34 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the subject of several research reports. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Snap-on currently has a consensus rating of “Hold” and a consensus price target of $346.40.

Snap-on Trading Down 1.9 %

SNA opened at $329.09 on Monday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The stock has a fifty day moving average price of $340.12 and a 200-day moving average price of $333.92. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the business earned $4.75 earnings per share. As a group, equities research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.60%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by insiders.

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.