Key Points
- Jesus Arregui, Snap‑On's SVP, sold 3,831 shares on Nov. 25 at an average of $337.28 for about $1.29M, cutting his stake by 59.18% to 2,642 shares (≈$891k).
- Snap‑On raised its quarterly dividend to $2.44 (annualized $9.76) with an ex‑dividend date of Nov. 21 and a yield of roughly 2.9%, up from $2.14 previously.
- The company beat the quarter with $4.71 EPS vs. $4.59 expected and $1.19B revenue vs. $1.16B expected, and analysts hold a "Moderate Buy" consensus with an average target of $365.
Snap-On Incorporated (NYSE:SNA - Get Free Report) SVP Jesus Arregui sold 3,831 shares of the firm's stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the transaction, the senior vice president directly owned 2,642 shares in the company, valued at approximately $891,093.76. The trade was a 59.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Snap-On Stock Up 2.3%
Shares of NYSE SNA opened at $340.56 on Wednesday. The business has a 50-day moving average price of $338.96 and a 200 day moving average price of $328.19. The stock has a market cap of $17.71 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $373.89.
Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts' consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.70 earnings per share. Equities research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.
Snap-On Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a $2.44 dividend. This is a positive change from Snap-On's previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.9%. Snap-On's payout ratio is currently 51.18%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Snap-On by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company's stock valued at $2,021,262,000 after purchasing an additional 80,422 shares in the last quarter. State Street Corp lifted its holdings in shares of Snap-On by 1.6% in the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company's stock valued at $777,603,000 after buying an additional 36,130 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company's stock valued at $609,292,000 after buying an additional 36,421 shares in the last quarter. First Trust Advisors LP grew its holdings in Snap-On by 1.3% during the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company's stock worth $664,149,000 after acquiring an additional 23,863 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Snap-On in the second quarter worth $434,938,000. 84.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have issued reports on SNA. Tigress Financial raised their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Tuesday, October 21st. Robert W. Baird raised their price target on Snap-On from $355.00 to $365.00 and gave the stock a "neutral" rating in a report on Friday, October 17th. Roth Capital restated a "buy" rating and issued a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Snap-On presently has a consensus rating of "Moderate Buy" and an average target price of $365.00.
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About Snap-On
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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.
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