Mitsubishi UFJ Asset Management Co. Ltd. Purchases 8,896 Shares of Snap-On Incorporated $SNA

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,205 shares of the company’s stock after purchasing an additional 8,896 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Snap-On worth $31,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SNA. Ameritas Advisory Services LLC purchased a new position in shares of Snap-On in the second quarter worth approximately $30,000. Cullen Frost Bankers Inc. raised its position in Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Snap-On during the 1st quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after acquiring an additional 38 shares during the last quarter. Finally, Harbor Asset Planning Inc. purchased a new stake in shares of Snap-On in the 2nd quarter worth $45,000. Institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the transaction, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is currently owned by company insiders.

Snap-On Stock Performance

Snap-On stock opened at $342.98 on Wednesday. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a market capitalization of $17.84 billion, a PE ratio of 17.99, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a 50 day moving average price of $338.06 and a 200-day moving average price of $326.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted $4.70 EPS. Snap-On’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a $2.44 dividend. The ex-dividend date is Friday, November 21st. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s dividend payout ratio is presently 51.18%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNA shares. Roth Capital reiterated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Robert W. Baird upped their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Tigress Financial boosted their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Bank of America upped their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

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.