Key Points
- VP June Lemerand sold $534,071.46 worth of Snap‑On stock (1,378 shares at $387.57), cutting her holding by 32.11% to 2,913 shares (disclosed on an SEC Form 4).
- Snap‑On declared a quarterly dividend of $2.44 (ex‑dividend Feb 24; payable Mar 10), equal to $9.76 annually and a yield of about 2.5% with a payout ratio near 50.9%.
- The company reported quarterly EPS of $4.94, beating estimates by $0.08 while revenue of $1.23B slightly missed expectations; Snap‑On has a market cap near $19.95B, a P/E of ~20 and an average analyst rating of "Moderate Buy" (avg. target $370.67).
Snap-On Incorporated (NYSE:SNA - Get Free Report) VP June Lemerand sold 1,378 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president directly owned 2,913 shares in the company, valued at approximately $1,128,991.41. This represents a 32.11% 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 Stock Performance
Snap-On stock traded down $2.20 during trading hours on Thursday, reaching $384.26. 84,623 shares of the company were exchanged, compared to its average volume of 339,099. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $390.13. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $366.21 and a 200 day moving average of $347.03. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.67 and a beta of 0.81.
Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping analysts' consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the previous year, the company earned $4.82 earnings per share. Snap-On's revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.
Snap-On Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $2.44 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On's payout ratio is presently 50.86%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on SNA shares. Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Roth Mkm reiterated a "buy" rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Five equities 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $370.67.
Get Our Latest Research Report on Snap-On
Institutional Investors Weigh In On Snap-On
A number of institutional investors have recently added to or reduced their stakes in the stock. Generali Asset Management SPA SGR acquired a new position in shares of Snap-On during the 3rd quarter worth about $2,068,000. Norges Bank bought a new position in Snap-On in the second quarter valued at approximately $168,010,000. First Citizens Bank & Trust Co. increased its position in shares of Snap-On by 3.6% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company's stock worth $13,910,000 after purchasing an additional 1,404 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Snap-On by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company's stock worth $2,021,262,000 after purchasing an additional 80,422 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Snap-On by 3.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company's stock valued at $433,601,000 after buying an additional 36,964 shares during the last quarter. 84.88% of the stock is 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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