Mufg Securities Americas Inc. Invests $263,000 in Snap-on Incorporated (NYSE:SNA)

Mufg Securities Americas Inc. acquired a new position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 775 shares of the company's stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNA. UMB Bank n.a. lifted its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on in the 4th quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on in the 4th quarter valued at about $28,000. CoreFirst Bank & Trust acquired a new position in shares of Snap-on in the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC lifted its stake in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares during the period. Institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SNA shares. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research note on Monday. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Robert W. Baird decreased their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. StockNews.com raised Snap-on from a "hold" rating to a "buy" rating in a report on Friday. Finally, Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Snap-on Stock Down 1.6%

Shares of SNA traded down $5.21 on Tuesday, hitting $326.71. 213,993 shares of the stock traded hands, compared to its average volume of 361,324. The company has a market capitalization of $17.08 billion, a PE ratio of 16.75, a P/E/G ratio of 2.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The business has a 50 day simple moving average of $322.59 and a 200 day simple moving average of $338.85. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business earned $4.91 EPS. As a group, equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was 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 approximately $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,113 shares of company stock valued at $11,752,590 in the last 90 days. Company 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.