Key Points
- Snap-On CEO Nicholas Pinchuk sold 23,396 shares on May 5 under a pre-arranged Rule 10b5-1 plan at an average of $375.77 each, totaling about $8.79 million and reducing his ownership by 2.66% to 856,918 shares (≈$322 million).
- Board approved a $500 million share buyback (up to ~2.6% of shares) and the company also declared a quarterly dividend of $2.44 per share (annualized $9.76, ~2.6% yield; ex-dividend May 20, paid June 10).
- Snap-On’s latest quarter (reported Apr 23) saw EPS of $4.69, slightly below estimates of $4.75, while revenue rose 5.8% to $1.21 billion and the company posted a net margin of 21.3% and ROE of 17.1%.
Snap-On Incorporated (NYSE:SNA - Get Free Report) CEO Nicholas Pinchuk sold 23,396 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the sale, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Snap-On Stock Performance
SNA stock opened at $378.76 on Wednesday. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.61 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The stock's fifty day moving average is $374.23 and its two-hundred day moving average is $360.72.
Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $4.51 earnings per share. On average, research analysts predict that Snap-On Incorporated will post 19.75 EPS for the current year.
Snap-On announced that its Board of Directors has authorized a share buyback plan on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.
Snap-On Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.6%. Snap-On's dividend payout ratio (DPR) is currently 50.39%.
Institutional Investors Weigh In On Snap-On
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company's stock valued at $2,248,683,000 after buying an additional 31,073 shares during the period. State Street Corp raised its holdings in Snap-On by 1.3% during the fourth quarter. State Street Corp now owns 2,272,041 shares of the company's stock worth $782,945,000 after acquiring an additional 28,071 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company's stock worth $693,306,000 after buying an additional 39,765 shares during the last quarter. First Trust Advisors LP increased its holdings in Snap-On by 2.7% during the fourth quarter. First Trust Advisors LP now owns 1,967,608 shares of the company's stock worth $678,038,000 after buying an additional 51,037 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock worth $454,206,000 after purchasing an additional 51,486 shares during the period. Institutional investors own 84.88% of the company's stock.
Analyst Upgrades and Downgrades
SNA has been the topic of several recent analyst reports. Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Roth Mkm reiterated a "buy" rating and issued a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Tigress Financial lifted their target price on Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $381.20.
Check Out Our Latest Analysis on Snap-On
Snap-On Company Profile
(
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.
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