Key Points
- Snap-On CFO Aldo John Pagliari sold 5,531 shares at an average price of $404.25, generating $2.24 million. The Rule 10b5-1 transaction reduced his holdings by 4.38%, leaving him with 120,644 shares.
- Snap-On reported quarterly EPS of $4.96, slightly exceeding estimates, while revenue reached $1.24 billion, up 4.7% year over year. The company also authorized a $500 million share-repurchase program.
- Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating and an average price target of $426.20. Snap-On also declared a quarterly dividend of $2.44 per share, representing a 2.4% annualized yield.
Snap-On Incorporated (NYSE:SNA - Get Free Report) CFO Aldo John Pagliari sold 5,531 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares of the company's stock, valued at approximately $48,770,337. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Aldo John Pagliari also recently made the following trade(s):
- On Thursday, June 4th, Aldo John Pagliari sold 1,330 shares of Snap-On stock. The stock was sold at an average price of $379.27, for a total value of $504,429.10.
Snap-On Price Performance
Shares of Snap-On stock opened at $404.57 on Friday. The stock has a 50 day moving average of $401.69 and a 200 day moving average of $383.48. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02. The firm has a market cap of $20.93 billion, a PE ratio of 20.63, a PEG ratio of 2.87 and a beta of 0.73. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15.
Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.72 EPS. On average, research analysts expect that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.
Snap-On announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Snap-On Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. Snap-On's dividend payout ratio (DPR) is 49.77%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on SNA. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research report on Friday, July 24th. Roth Capital reiterated a "buy" rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Friday, July 17th. Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price objective for the company. Finally, Tigress Financial lifted their target price on Snap-On from $445.00 to $485.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $426.20.
View Our Latest Stock Report on SNA
Hedge Funds Weigh In On Snap-On
A number of large investors have recently made changes to their positions in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company's stock valued at $2,983,000 after purchasing an additional 1,185 shares during the last quarter. Woodline Partners LP lifted its stake in Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company's stock worth $1,492,000 after purchasing an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Snap-On by 100.9% during the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company's stock valued at $144,000 after buying an additional 233 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Snap-On by 32.9% during the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company's stock valued at $545,000 after buying an additional 434 shares during the period. Finally, Natixis grew its stake in shares of Snap-On by 136.8% during the second quarter. Natixis now owns 3,048 shares of the company's stock valued at $948,000 after buying an additional 1,761 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.
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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