Mitsubishi UFJ Trust & Banking Corp lessened its stake in Snap-on Incorporated (NYSE:SNA) by 56.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,713 shares of the company’s stock after selling 75,791 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Snap-on were worth $10,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in Snap-on during the second quarter valued at approximately $107,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Snap-on by 7.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 171,071 shares of the company’s stock worth $27,495,000 after buying an additional 11,556 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Snap-on by 41.7% in the second quarter. Wells Fargo & Company MN now owns 639,556 shares of the company’s stock worth $102,789,000 after buying an additional 188,125 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Snap-on by 3.9% in the second quarter. D.A. Davidson & CO. now owns 9,735 shares of the company’s stock worth $1,565,000 after buying an additional 366 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Snap-on in the second quarter worth approximately $952,000.

Shares of NYSE SNA opened at $156.49 on Thursday. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.30. Snap-on Incorporated has a fifty-two week low of $141.63 and a fifty-two week high of $189.46. The company has a market capitalization of $8.79 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.28 and a beta of 1.31.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.02. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. The firm had revenue of $898.10 million for the quarter, compared to the consensus estimate of $928.73 million. During the same period in the prior year, the business posted $2.45 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Snap-on Incorporated will post 11.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 20th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.43%. This is an increase from Snap-on’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, November 19th. Snap-on’s dividend payout ratio is presently 37.55%.

Several equities research analysts have recently weighed in on SNA shares. Barrington Research reiterated a “buy” rating and issued a $200.00 price target on shares of Snap-on in a report on Monday, August 20th. Zacks Investment Research downgraded Snap-on from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Robert W. Baird reduced their price target on Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Snap-on presently has an average rating of “Buy” and a consensus target price of $195.40.

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About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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