Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Snap-On Incorporated $SNA

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Snap-On Incorporated (NYSE:SNA) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,205 shares of the company’s stock after purchasing an additional 8,896 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Snap-On were worth $31,804,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SNA. Choreo LLC boosted its holdings in Snap-On by 78.3% in the first quarter. Choreo LLC now owns 7,218 shares of the company’s stock valued at $2,432,000 after purchasing an additional 3,170 shares during the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Snap-On by 5.3% in the 1st quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after buying an additional 63 shares during the period. Jump Financial LLC lifted its holdings in shares of Snap-On by 367.7% in the 1st quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock valued at $1,861,000 after buying an additional 4,342 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Snap-On in the first quarter worth about $1,986,000. Finally, Ascent Group LLC acquired a new stake in Snap-On during the first quarter worth about $421,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.90% of the stock is currently owned by company insiders.

Snap-On Stock Performance

NYSE:SNA opened at $342.98 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The stock has a market capitalization of $17.84 billion, a PE ratio of 17.99, a P/E/G ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a fifty day moving average of $338.06 and a two-hundred day moving average of $326.76.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $4.70 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. The ex-dividend date of this dividend is Friday, November 21st. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.8%. Snap-On’s payout ratio is currently 51.18%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Roth Capital reissued a “buy” rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Robert W. Baird raised their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

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.