4,325 Snap-On Incorporated $SNA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Snap-On Incorporated (NYSE:SNA – Free Report) by 3.6% during the third quarter, Holdings Channel reports. The institutional investor owned 116,553 shares of the company’s stock after selling 4,325 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Snap-On were worth $42,350,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SNA. North Dakota State Investment Board grew its position in Snap-On by 1.8% during the 3rd quarter. North Dakota State Investment Board now owns 1,552 shares of the company’s stock worth $564,000 after purchasing an additional 28 shares during the period. Childress Capital Advisors LLC raised its position in shares of Snap-On by 3.1% during the 3rd quarter. Childress Capital Advisors LLC now owns 1,217 shares of the company’s stock valued at $442,000 after buying an additional 37 shares during the period. CX Institutional boosted its position in shares of Snap-On by 10.6% during the 2nd quarter. CX Institutional now owns 447 shares of the company’s stock worth $180,000 after purchasing an additional 43 shares during the period. Ascentis Independent Advisors boosted its position in Snap-On by 2.5% in the 1st quarter. Ascentis Independent Advisors now owns 1,859 shares of the company’s stock valued at $675,000 after buying an additional 46 shares during the period. Finally, Sovran Advisors LLC lifted its position in shares of Snap-On by 6.7% during the 1st quarter. Sovran Advisors LLC now owns 752 shares of the company’s stock worth $288,000 after purchasing an additional 47 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Performance

Shares of NYSE SNA opened at $369.68 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.55 and a quick ratio of 2.71. Snap-On Incorporated has a one year low of $320.80 and a one year high of $423.02. The firm has a market cap of $19.07 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 2.58 and a beta of 0.75. The stock’s fifty day moving average price is $369.96 and its two-hundred day moving average price is $380.21.

Snap-On (NYSE:SNA – Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. Snap-On’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $4.71 EPS. On average, equities analysts forecast that Snap-On Incorporated will post 19.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Roth Capital reissued a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings lowered Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Robert W. Baird set a $385.00 price objective on shares of Snap-On in a report on Friday, October 23rd. Tigress Financial raised their target price on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Barclays cut their price objective on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.00.

Get Our Latest Report on Snap-On

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 22,889 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares in the company, valued at approximately $346,842,588.51. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the sale, the chief financial officer owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,220 shares of company stock valued at $11,704,411 in the last three months. 3.80% of the stock is currently owned by company insiders.

Snap-On Profile

(Free Report)

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.

Further Reading

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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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