Key Points
- CEO Nicholas Pinchuk sold 23,229 shares on Feb. 23 at an average price of $383.36 for about $8.91 million, reducing his stake by 2.67% to 846,562 shares (valued ~ $324.5M).
- Snap‑On reported quarterly EPS of $4.94 (beat consensus), revenue of $1.23B (slightly below) and declared a quarterly dividend of $2.44 ($9.76 annualized, ~2.5% yield).
- The stock has a market cap of about $19.99B with a P/E of 20.06; analysts’ consensus rating is “Moderate Buy” with an average price target of $370.67.
Snap-On Incorporated (NYSE:SNA - Get Free Report) CEO Nicholas Pinchuk sold 23,229 shares of the business's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $383.36, for a total value of $8,905,069.44. Following the transaction, the chief executive officer owned 846,562 shares of the company's stock, valued at $324,538,008.32. This trade represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Snap-On Price Performance
Shares of SNA opened at $385.04 on Tuesday. Snap-On Incorporated has a one year low of $289.81 and a one year high of $390.13. The stock's fifty day moving average is $364.64 and its 200-day moving average is $346.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.81.
Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping the consensus estimate of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.82 earnings per share. Equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.
Snap-On Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a $2.44 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On's dividend payout ratio (DPR) is 50.86%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on SNA. Robert W. Baird set a $375.00 target price on Snap-On in a research report on Friday, February 6th. Wall Street Zen downgraded Snap-On from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Roth Mkm reaffirmed a "buy" rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $370.67.
View Our Latest Analysis on SNA
Hedge Funds Weigh In On Snap-On
Hedge funds have recently modified their holdings of the stock. Generali Asset Management SPA SGR acquired a new position in shares of Snap-On during the third quarter valued at about $2,068,000. Norges Bank bought a new position in Snap-On during the second quarter valued at about $168,010,000. First Citizens Bank & Trust Co. raised its holdings in Snap-On by 3.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company's stock valued at $13,910,000 after acquiring an additional 1,404 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Snap-On by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company's stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company's stock worth $433,601,000 after purchasing an additional 36,964 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.
About Snap-On
(
Get Free Report)
Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.
Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.
Further Reading
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