Snap-On Incorporated (NYSE:SNA - Get Free Report) VP Richard Thomas Miller sold 427 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $389.55, for a total value of $166,337.85. Following the transaction, the vice president directly owned 4,527 shares in the company, valued at $1,763,492.85. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Snap-On Trading Up 1.8%
Shares of NYSE:SNA opened at $385.10 on Friday. The business's 50-day moving average is $374.44 and its 200 day moving average is $366.97. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The firm has a market capitalization of $19.95 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74.
Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $4.51 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.
Snap-On Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On's dividend payout ratio is currently 50.39%.
Snap-On declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.
Institutional Trading of Snap-On
A number of hedge funds have recently modified their holdings of SNA. Auto Owners Insurance Co boosted its stake in shares of Snap-On by 34,360.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company's stock worth $353,279,000 after buying an additional 1,022,210 shares during the last quarter. Norges Bank purchased a new stake in shares of Snap-On in the fourth quarter worth about $210,814,000. Victory Capital Management Inc. boosted its stake in shares of Snap-On by 346.0% in the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company's stock worth $96,850,000 after buying an additional 216,813 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Snap-On in the fourth quarter worth about $69,751,000. Finally, UBS Group AG boosted its stake in shares of Snap-On by 30.7% in the fourth quarter. UBS Group AG now owns 617,620 shares of the company's stock worth $212,832,000 after buying an additional 144,926 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price objective on the stock. Roth Mkm reissued a "buy" rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Tigress Financial increased their price objective on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a report on Friday, February 27th. Finally, Robert W. Baird increased their price objective on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $387.67.
Read Our Latest Stock Analysis on SNA
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.
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