Mitsubishi UFJ Asset Management Co. Ltd. Buys 9,934 Shares of Snap-On Incorporated (NYSE:SNA)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Snap-On by 11.9%, now owning approximately 0.18% of the company valued at $31.4 million.
• Insider transactions revealed that CEO Nicholas T. Pinchuk sold 23,172 shares worth over $7.3 million, reducing his ownership by 2.8%.
• Snap-On reported earnings of $4.72 per share for the last quarter, surpassing expectations and signaling strong financial performance.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,309 shares of the company's stock after purchasing an additional 9,934 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Snap-On worth $31,446,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNA. Charles Schwab Investment Management Inc. raised its holdings in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock valued at $647,593,000 after acquiring an additional 115,306 shares during the period. First Trust Advisors LP raised its holdings in Snap-On by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after acquiring an additional 411,317 shares during the period. Auto Owners Insurance Co raised its holdings in Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the period. Earnest Partners LLC raised its holdings in Snap-On by 1.9% during the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock valued at $327,213,000 after acquiring an additional 18,209 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Snap-On by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 927,564 shares of the company's stock valued at $314,896,000 after acquiring an additional 50,187 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-On Trading Up 2.6%

SNA traded up $8.34 on Wednesday, hitting $333.90. The company had a trading volume of 236,247 shares, compared to its average volume of 384,641. The company has a market cap of $17.42 billion, a PE ratio of 17.81, a PEG ratio of 2.23 and a beta of 0.76. Snap-On Incorporated has a 12-month low of $268.90 and a 12-month high of $373.89. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The business's fifty day simple moving average is $319.37 and its 200 day simple moving average is $325.69.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The firm's revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $5.07 earnings per share. Equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's payout ratio is 45.65%.

Insider Buying and Selling at Snap-On

In other news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares in the company, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,857 shares of company stock worth $16,876,248 over the last 90 days. Company insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SNA shares. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Robert W. Baird raised their price objective on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Bank of America raised their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Company 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.