Truist Financial Corp Has $6.37 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Truist Financial Corp trimmed its holdings in Snap-on Incorporated (NYSE:SNA) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,749 shares of the company’s stock after selling 287 shares during the quarter. Truist Financial Corp’s holdings in Snap-on were worth $6,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Bleakley Financial Group LLC acquired a new position in Snap-on during the 4th quarter worth approximately $512,000. Vest Financial LLC raised its stake in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after buying an additional 2,460 shares during the period. Asset Management One Co. Ltd. raised its stake in Snap-on by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after buying an additional 67 shares during the period. Sanctuary Advisors LLC raised its stake in Snap-on by 3.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after buying an additional 1,605 shares during the period. Finally, World Investment Advisors LLC acquired a new position in Snap-on during the 3rd quarter worth approximately $19,291,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

Shares of SNA opened at $335.87 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a 50 day moving average price of $343.79 and a two-hundred day moving average price of $323.56. The firm has a market capitalization of $17.60 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.21 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.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the company posted $4.75 earnings per share. Equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,503 shares of company stock valued at $15,906,074. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. One 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’s stock. According to data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on 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.