First Citizens Bank & Trust Co. Has $10.89 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

First Citizens Bank & Trust Co. reduced its position in Snap-on Incorporated (NYSE:SNA) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 32,089 shares of the company’s stock after selling 780 shares during the period. First Citizens Bank & Trust Co. owned about 0.06% of Snap-on worth $10,894,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted 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. Reston Wealth Management LLC bought a new stake in shares of Snap-on during the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter worth $39,000. Finally, Quarry LP raised its stake in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,929 shares of company stock worth $15,645,074 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.1 %

Shares of SNA stock opened at $350.33 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The stock’s fifty day simple moving average is $350.47 and its 200 day simple moving average is $313.68. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $18.40 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.21 and a beta of 1.00.

Snap-on Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SNA. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. 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, Snap-on has an average rating of “Hold” and a consensus target price of $345.40.

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.