Snap-on Incorporated (NYSE:SNA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,427 shares of the company’s stock after selling 801 shares during the quarter. Corebridge Financial Inc.’s holdings in Snap-on were worth $4,219,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SNA. Greenleaf Trust raised its stake in Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC boosted its holdings in Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares during the last quarter. New York Life Investment Management LLC grew its position in Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after acquiring an additional 31 shares during the period. Finally, Inspire Advisors LLC increased its stake in Snap-on by 1.0% during the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after acquiring an additional 34 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Down 1.9 %

NYSE SNA opened at $329.09 on Monday. The stock has a market cap of $17.25 billion, a PE ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99. The business has a 50 day moving average price of $340.12 and a two-hundred day moving average price of $333.92. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share 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 quarter last year, the business posted $4.75 earnings per share. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNA shares. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. Tigress Financial increased their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Buying and Selling at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

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.