First Citizens Bank & Trust Co. Has $9.52 Million Holdings in Snap-on Incorporated (NYSE:SNA)

First Citizens Bank & Trust Co. decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,869 shares of the company’s stock after selling 1,589 shares during the quarter. First Citizens Bank & Trust Co. owned 0.06% of Snap-on worth $9,522,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rockland Trust Co. bought a new stake in shares of Snap-on during the 1st quarter worth approximately $889,000. Manning & Napier Advisors LLC acquired a new stake in Snap-on in the second quarter valued at about $4,571,000. SG Americas Securities LLC grew its position in Snap-on by 32.7% in the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after acquiring an additional 3,238 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Snap-on during the 2nd quarter valued at approximately $3,653,000. Finally, LSV Asset Management lifted its stake in Snap-on by 0.5% in the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after purchasing an additional 3,535 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,848 shares of company stock worth $9,884,486 over the last three months. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. Finally, Robert W. Baird raised their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $327.40.

Snap-on Stock Down 0.5 %

Shares of SNA opened at $326.09 on Friday. The stock’s 50-day moving average price is $284.18 and its two-hundred day moving average price is $276.78. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $330.51. The company has a market capitalization of $17.18 billion, a PE ratio of 16.95, a PEG ratio of 2.06 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.89 earnings per share. On average, analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on announced that its board has authorized a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio is currently 38.67%.

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.