Sumitomo Mitsui Trust Group Inc. Sells 1,559 Shares of Snap-on Incorporated (NYSE:SNA)

Sumitomo Mitsui Trust Group Inc. cut its position in Snap-on Incorporated (NYSE:SNA) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,367 shares of the company’s stock after selling 1,559 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Snap-on were worth $46,973,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SNA. UMB Bank n.a. increased its stake in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter valued at approximately $28,000. Reston Wealth Management LLC bought a new position in shares of Snap-on during the third quarter valued at $30,000. Brooklyn Investment Group acquired a new position in shares of Snap-on during the third quarter worth $39,000. Finally, nVerses Capital LLC bought a new stake in shares of Snap-on in the third quarter worth $58,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNA has been the subject of several analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America increased their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Transactions at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock valued at $11,400,978 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

Snap-on stock opened at $340.38 on Tuesday. The stock has a market capitalization of $17.87 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15. The stock’s 50 day moving average price is $347.29 and its two-hundred day moving average price is $320.10.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm earned $4.75 EPS. On average, equities analysts predict that Snap-on Incorporated will post 20.07 earnings per share for the current year.

About Snap-on

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.