Snap-On Incorporated $SNA Stock: Sumitomo Mitsui Trust Group Inc. Lowers Stake

Sumitomo Mitsui Trust Group Inc. lowered its stake in Snap-On Incorporated (NYSE:SNA) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,553 shares of the company’s stock after selling 4,325 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Snap-On worth $42,350,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SNA. Western Wealth Management LLC purchased a new stake in shares of Snap-On in the first quarter valued at $29,000. Independence Bank of Kentucky bought a new stake in shares of Snap-On in the 3rd quarter valued at approximately $29,000. Keating Financial Advisory Services Inc. bought a new position in Snap-On during the second quarter valued at approximately $45,000. Elevation Wealth Partners LLC increased its position in Snap-On by 773.3% during the second quarter. Elevation Wealth Partners LLC now owns 131 shares of the company’s stock worth $53,000 after buying an additional 116 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Snap-On in the third quarter worth $53,000. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SNA shares. Robert W. Baird set a $385.00 price objective on Snap-On in a research note on Friday, October 23rd. Weiss Ratings cut shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Barclays dropped their target price on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Tigress Financial raised their target price on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Roth Capital reissued a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and an average price target of $434.00.

Insider Activity at Snap-On

In related news, CFO Aldo Pagliari sold 5,531 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This trade represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the transaction, the chief executive officer directly owned 867,779 shares in the company, valued at approximately $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 29,220 shares of company stock valued at $11,704,411 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Snap-On Stock Up 2.1%

Snap-On stock opened at $369.68 on Thursday. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $19.07 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.58 and a beta of 0.75. Snap-On Incorporated has a twelve month low of $320.80 and a twelve month high of $423.02. The firm has a 50 day moving average price of $369.96 and a 200-day moving average price of $380.21.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing the consensus estimate of $4.93 by ($0.29). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 EPS. As a group, equities analysts predict that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.