Meiji Yasuda Asset Management Co Ltd. Reduces Position in Snap-on Incorporated (NYSE:SNA)

Meiji Yasuda Asset Management Co Ltd. reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 25.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,686 shares of the company’s stock after selling 580 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Snap-on were worth $572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Snap-on by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after buying an additional 19,328 shares during the last quarter. State Street Corp raised its position in shares of Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after acquiring an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after purchasing an additional 77,486 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after purchasing an additional 69,590 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA opened at $335.40 on Friday. The stock has a market cap of $17.58 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The stock has a 50 day moving average of $340.50 and a two-hundred day moving average of $332.75. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business posted $4.75 EPS. On average, research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Wall Street Analysts Forecast Growth

SNA has been the subject of several recent analyst reports. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 over the last quarter. 3.90% of the stock is currently owned by insiders.

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.