Snap-On Incorporated (NYSE:SNA - Get Free Report) SVP Timothy Chambers sold 389 shares of the business's stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $419.43, for a total value of $163,158.27. Following the transaction, the senior vice president directly owned 21,223 shares of the company's stock, valued at $8,901,562.89. This represents a 1.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Snap-On Price Performance
Shares of NYSE:SNA opened at $420.22 on Wednesday. The company has a market cap of $21.74 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.87 and a beta of 0.73. The business has a 50 day moving average price of $391.65 and a 200 day moving average price of $379.39. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a twelve month low of $312.78 and a twelve month high of $420.91.
Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business posted $4.72 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.
Snap-On declared that its Board of Directors has initiated a share buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.
Snap-On Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.3%. Snap-On's dividend payout ratio (DPR) is presently 49.77%.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Barclays started coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price target for the company. Roth Capital reiterated a "buy" rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday. Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Snap-On has an average rating of "Moderate Buy" and a consensus price target of $418.20.
Get Our Latest Stock Analysis on Snap-On
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of SNA. Miller Howard Investments Inc. NY bought a new stake in Snap-On during the first quarter worth about $51,244,000. First Horizon Corp acquired a new stake in shares of Snap-On during the fourth quarter worth approximately $4,068,000. QRG Capital Management Inc. raised its stake in shares of Snap-On by 9.9% in the first quarter. QRG Capital Management Inc. now owns 86,849 shares of the company's stock valued at $31,545,000 after acquiring an additional 7,798 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Snap-On by 21.8% in the 4th quarter. Fisher Asset Management LLC now owns 66,017 shares of the company's stock worth $22,750,000 after acquiring an additional 11,808 shares in the last quarter. Finally, Novem Group acquired a new position in shares of Snap-On in the 4th quarter worth approximately $980,000. 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.
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