Fifth Third Bancorp Has $4.41 Million Stake in Snap-on Incorporated (NYSE:SNA)

Fifth Third Bancorp lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 19.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,000 shares of the company’s stock after selling 3,122 shares during the period. Fifth Third Bancorp’s holdings in Snap-on were worth $4,413,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its holdings in shares of Snap-on by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after purchasing an additional 67 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after buying an additional 1,605 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Snap-on in the 3rd quarter valued at $19,291,000. Avanza Fonder AB bought a new position in shares of Snap-on during the 4th quarter worth about $1,936,000. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Snap-on by 220.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock valued at $787,000 after acquiring an additional 1,869 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap-on currently has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,192 shares of company stock worth $11,400,978. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Trading Down 0.1 %

Shares of SNA opened at $350.33 on Monday. The stock has a fifty day moving average price of $350.47 and a two-hundred day moving average price of $314.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.21 and a beta of 1.00. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

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.