Snap-on Incorporated (NYSE:SNA) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in Snap-on Incorporated (NYSE:SNA) by 25.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,686 shares of the company’s stock after selling 580 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Snap-on were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Zions Bancorporation N.A. lifted its stake in shares of Snap-on by 52.9% in the fourth quarter. Zions Bancorporation N.A. now owns 1,784 shares of the company’s stock valued at $606,000 after purchasing an additional 617 shares during the period. TIAA Trust National Association grew its position in Snap-on by 8.9% during the fourth quarter. TIAA Trust National Association now owns 4,745 shares of the company’s stock worth $1,611,000 after buying an additional 387 shares during the period. Modern Wealth Management LLC purchased a new position in Snap-on in the fourth quarter valued at about $219,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-on during the 4th quarter valued at approximately $40,000. Finally, Vanguard Group Inc. boosted its stake in shares of Snap-on by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after acquiring an additional 19,328 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SNA shares. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Snap-on has an average rating of “Hold” and a consensus price target of $346.40.

Snap-on Stock Down 0.6 %

SNA stock opened at $335.40 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The firm has a market capitalization of $17.58 billion, a PE ratio of 17.20, a P/E/G ratio of 2.21 and a beta of 0.99. The company’s 50 day simple moving average is $340.50 and its 200-day simple moving average is $332.75.

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

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.55%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,011 shares of company stock worth $12,116,859. Corporate insiders own 3.90% of the company’s stock.

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.