Snap-On Incorporated $SNA Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Snap-On Incorporated (NYSE:SNA) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 110,802 shares of the company’s stock after purchasing an additional 5,661 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Snap-On were worth $38,886,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On in the fourth quarter valued at $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On during the fourth quarter valued at $28,000. Montag A & Associates Inc. boosted its stake in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Snap-On during the third quarter valued at $36,000. Finally, United Community Bank acquired a new stake in shares of Snap-On during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of a number of analyst reports. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Tigress Financial increased their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Robert W. Baird increased their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $381.20.

Snap-On Stock Up 0.8%

Shares of NYSE:SNA opened at $373.59 on Friday. The stock’s 50-day moving average price is $373.96 and its two-hundred day moving average price is $361.25. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88. The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.60 and a beta of 0.75.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.51 earnings per share. On average, research analysts forecast that Snap-On Incorporated will post 19.75 EPS for the current year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its board has approved a share repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Snap-On

In other news, VP June C. Lemerand sold 1,378 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president directly owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $382.05, for a total value of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,046 shares of company stock worth $20,921,434 in the last three months. 3.80% of the stock is currently owned by company insiders.

Snap-On Company 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.