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

Key Points

• Sumitomo Mitsui Trust Group trimmed its Snap‑On stake by 5.3% in Q4, selling 7,598 shares and now holding 134,605 shares (~0.26%) worth about $46.39M; institutional investors own roughly 84.88% of the stock.
• Insiders have been selling recently — CEO Nicholas T. Pinchuk sold 23,229 shares and VP June C. Lemerand sold 1,378 shares, with insiders offloading 39,650 shares worth $15.21M in the past three months and insider ownership at 3.80%.
• Snap‑On beat EPS estimates ($4.94 vs. $4.86) while revenue narrowly missed ($1.23B vs. $1.24B); the company pays a $2.44 quarterly dividend (annual $9.76, ~2.6% yield), and analysts give an average rating of "Moderate Buy" with a $372.80 target.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,605 shares of the company's stock after selling 7,598 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Snap-On worth $46,385,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On during the fourth quarter worth $28,000. SJS Investment Consulting Inc. lifted its holdings in shares of Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company's stock worth $34,000 after purchasing an additional 94 shares during the period. Quent Capital LLC acquired a new stake in shares of Snap-On during the third quarter worth $36,000. Finally, MUFG Securities EMEA plc purchased a new position in Snap-On in the second quarter worth $48,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap-On

In other news, VP June C. Lemerand sold 1,378 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the transaction, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the transaction, the chief executive officer owned 846,562 shares of the company's stock, valued at approximately $324,538,008.32. This represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 39,650 shares of company stock worth $15,210,959. Corporate insiders own 3.80% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on SNA. Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Roth Mkm reiterated a "buy" rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Wall Street Zen cut Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, January 21st. Finally, Tigress Financial increased their price objective on Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $372.80.

Snap-On Trading Down 2.5%

NYSE:SNA opened at $368.45 on Thursday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The stock has a market capitalization of $19.18 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.61 and a beta of 0.77. The stock has a fifty day moving average price of $373.76 and a two-hundred day moving average price of $357.07. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating analysts' consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter last year, the business posted $4.82 earnings per share. The business's revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were given a $2.44 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's dividend payout ratio (DPR) is currently 50.86%.

Snap-On Company Profile

Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

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