Sumitomo Mitsui Trust Group Inc. Sells 1,559 Shares of Snap-on Incorporated (NYSE:SNA)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,367 shares of the company’s stock after selling 1,559 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Snap-on worth $46,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on during the fourth quarter worth approximately $28,000. Reston Wealth Management LLC bought a new stake in shares of Snap-on during the third quarter worth approximately $30,000. Brooklyn Investment Group acquired a new position in shares of Snap-on in the third quarter valued at approximately $39,000. Finally, nVerses Capital LLC bought a new position in shares of Snap-on during the third quarter worth approximately $58,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Tigress Financial upped their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday. Finally, Bank of America lifted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. One investment 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, Snap-on currently has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on Trading Up 0.6 %

Shares of Snap-on stock opened at $340.38 on Tuesday. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.13 and a beta of 0.99. The firm’s 50-day moving average price is $347.29 and its two-hundred day moving average price is $320.10.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the business posted $4.75 EPS. On average, analysts forecast that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,192 shares of company stock worth $11,400,978. Insiders own 4.10% of the company’s stock.

About Snap-on

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.