Key Points
- CEO Nicholas Pinchuk sold 22,607 shares on Dec. 2 at an average price of $339.15 for about $7.67M, reducing his stake by 2.66% to 826,364 shares (≈$280.26M), per an SEC filing.
- Snap‑On raised its quarterly dividend to $2.44 (from $2.14), payable Dec. 10 with an ex‑dividend date of Nov. 21, implying a $9.76 annualized payout, ~2.9% yield and a 51.18% payout ratio.
- The company beat recent estimates with Q3 EPS of $4.71 vs. $4.59 and revenue of $1.19B vs. $1.16B, and analysts hold a consensus "Moderate Buy" rating with an average target of $365.00.
Snap-On Incorporated (NYSE:SNA - Get Free Report) CEO Nicholas Pinchuk sold 22,607 shares of Snap-On stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the completion of the sale, the chief executive officer directly owned 826,364 shares of the company's stock, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Snap-On Price Performance
NYSE SNA opened at $340.38 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a market cap of $17.70 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $368.54. The firm's 50-day simple moving average is $339.26 and its two-hundred day simple moving average is $328.62.
Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $4.70 earnings per share. Research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.
Snap-On Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be given a dividend of $2.44 per share. This is an increase from Snap-On's previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 21st. Snap-On's dividend payout ratio (DPR) is currently 51.18%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on SNA shares. Roth Capital reaffirmed a "buy" rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Robert W. Baird upped their price target on Snap-On from $355.00 to $365.00 and gave the company a "neutral" rating in a research report on Friday, October 17th. Tigress Financial raised their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $365.00.
Read Our Latest Analysis on SNA
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of SNA. LPL Financial LLC grew its stake in Snap-On by 2.4% in the 1st quarter. LPL Financial LLC now owns 75,537 shares of the company's stock worth $25,457,000 after buying an additional 1,773 shares in the last quarter. Baker Avenue Asset Management LP purchased a new stake in shares of Snap-On during the 1st quarter valued at $250,000. PNC Financial Services Group Inc. lifted its holdings in shares of Snap-On by 0.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,805 shares of the company's stock worth $10,045,000 after acquiring an additional 110 shares during the last quarter. Argent Trust Co bought a new stake in shares of Snap-On during the 1st quarter worth $582,000. Finally, Blair William & Co. IL grew its position in Snap-On by 1.8% in the first quarter. Blair William & Co. IL now owns 7,834 shares of the company's stock worth $2,640,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.
Snap-On Company Profile
(
Get Free Report)
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.
Further Reading
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