Key Points
- Snap-On VP Richard Thomas Miller sold 2,000 shares on July 1 at an average price of $405.92, totaling $811,840. After the sale, he still held 4,529 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Snap-On recently reported mixed quarterly results, missing EPS estimates at $4.69 versus $4.75 expected, but beating revenue expectations with $1.21 billion in sales, up 5.8% year over year.
- The company remains financially supported by dividends, buybacks, and analyst optimism: it paid a $2.44 quarterly dividend, has a 2.4% yield, and recently authorized a $500 million share repurchase program. Analysts currently rate the stock a Moderate Buy with an average price target of $387.67.
Snap-On Incorporated (NYSE:SNA - Get Free Report) VP Richard Thomas Miller sold 2,000 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president owned 4,529 shares of the company's stock, valued at $1,838,411.68. This represents a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Richard Thomas Miller also recently made the following trade(s):
- On Wednesday, June 10th, Richard Thomas Miller sold 427 shares of Snap-On stock. The shares were sold at an average price of $389.55, for a total transaction of $166,337.85.
Snap-On Stock Performance
Shares of NYSE:SNA opened at $412.09 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $380.07 and a 200-day moving average price of $372.25. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73. Snap-On Incorporated has a 12 month low of $310.23 and a 12 month high of $412.33.
Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (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 analysts' expectations of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.51 EPS. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.
Snap-On Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On's payout ratio is 50.39%.
Snap-On declared that its board has initiated a stock buyback plan on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Hedge Funds Weigh In On Snap-On
A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company's stock valued at $2,983,000 after buying an additional 1,185 shares during the period. Woodline Partners LP grew its position in shares of Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company's stock worth $1,492,000 after buying an additional 1,273 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Snap-On by 100.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company's stock worth $144,000 after buying an additional 233 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Snap-On by 32.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company's stock worth $545,000 after acquiring an additional 434 shares in the last quarter. Finally, Natixis increased its stake in shares of Snap-On by 136.8% in the 2nd quarter. Natixis now owns 3,048 shares of the company's stock worth $948,000 after acquiring an additional 1,761 shares in the last quarter. Institutional investors own 84.88% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Barclays initiated coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 target price for the company. Robert W. Baird lifted their target price on shares of Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Finally, Roth Mkm reiterated a "buy" rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Snap-On currently has an average rating of "Moderate Buy" and an average target price of $387.67.
View Our Latest Research Report on Snap-On
Snap-On Company Profile
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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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