First Citizens Bank & Trust 13F: Cuts SNA Stake by $3.7M

First Citizens Bank & Trust has reduced its investment in Snap-on Incorporated (NYSE: SNA) by 21.9%. According to its latest filing, the bank sold 10,108 shares, leaving it with 35,842 shares valued at approximately $13 million. This change was reported as of the end of the quarter.

What Changed in First Citizens Bank & Trust's Snap-on Position

First Citizens Bank & Trust trimmed its position in Snap-on by 21.9%, reducing its holdings from 45,950 shares to 35,842 shares. The shares are now valued at around $13 million.

Snap-on Incorporated Stock Down 1.8%

Shares of Snap-on Incorporated traded near their previous close of $372.15 on Friday. The company, which operates in the industrial sector as part of the tools and accessories industry, has a market capitalization of $19.1 billion. Snap-on's P/E ratio is 18.9, and it has a forward P/E of 17.3. The stock's beta is 0.712, indicating lower volatility compared to the market. Over the past year, Snap-on's stock has ranged from a low of $320.8 to a high of $423.02, with a 50-day moving average of $396.83 and a 200-day moving average of $378.46.

Recent Earnings

Snap-on reported revenue of approximately $5.27 billion, with a growth rate of 4.2%. The company's net margin stands at 19.6%, and it has a return on equity of 17.9%. The next earnings report is expected on October 15, 2026.

Dividend

Snap-on offers an annual dividend rate of $9.76 per share, yielding 2.62%. The dividend payout ratio is 48.27%, reflecting a comfortable distribution relative to its earnings.

About Snap-on Incorporated

Snap-on Incorporated, based in Kenosha, Wisconsin, manufactures and sells a wide range of tools, equipment, and diagnostic solutions for professional users worldwide. The company operates through several segments including Commercial & Industrial, Snap-on Tools, and Repair Systems & Information. Its offerings include hand and power tools, tool storage products, diagnostics, and repair information systems. Snap-on serves the vehicle service, repair, and industrial sectors through various sales channels, including mobile vans, direct sales, and digital platforms. The company, led by CEO Nicholas T. Pinchuk, employs approximately 13,000 people.

Bottom Line

First Citizens Bank & Trust's decision to reduce its stake in Snap-on reflects a strategic portfolio adjustment. Investors often track such filings to gauge institutional sentiment, though it's important to remember that 13F filings are historical and may not represent current positions. Snap-on's solid financial metrics and steady dividend make it a significant player in the industrial tools market.