Key Points
- Snap-On VP Marty Ozolins sold 800 shares at an average price of $400, generating $320,000 in proceeds. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 34.39% to 1,526 shares.
- Snap-On reported quarterly EPS of $4.96, slightly above estimates, while revenue rose 4.7% year over year to $1.24 billion. The company also authorized a $500 million stock-repurchase program and declared a quarterly dividend of $2.44 per share.
- Analysts maintain a “Moderate Buy” consensus, with five Buy ratings and one Hold and an average price target of $426.20. Institutional investors own approximately 84.88% of the company’s stock.
Snap-On Incorporated (NYSE:SNA - Get Free Report) VP Marty Ozolins sold 800 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the transaction, the vice president directly owned 1,526 shares in the company, valued at $610,400. The trade was a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a 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.
Snap-On Price Performance
Shares of NYSE SNA opened at $395.94 on Friday. The stock's 50 day moving average price is $404.06 and its 200-day moving average price is $385.23. 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 $319.20 and a twelve month high of $423.02. The company has a market capitalization of $20.48 billion, a PE ratio of 20.19, a PEG ratio of 2.80 and a beta of 0.73.
Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.72 EPS. On average, equities analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.
Snap-On declared that its board has approved a stock 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 buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.
Snap-On Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $2.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On's dividend payout ratio is presently 49.77%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in shares of Snap-On by 37,771.8% during the second quarter. California State Teachers Retirement System now owns 34,015,677 shares of the company's stock valued at $13,687,908,000 after buying an additional 33,925,859 shares during the period. BlackRock Inc. purchased a new stake in shares of Snap-On in the 2nd quarter worth about $1,715,363,000. Auto Owners Insurance Co lifted its position in shares of Snap-On by 34,360.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company's stock worth $353,279,000 after purchasing an additional 1,022,210 shares during the period. Bank of America Corp DE bought a new stake in shares of Snap-On during the 2nd quarter valued at about $329,779,000. Finally, Norges Bank bought a new stake in shares of Snap-On during the 4th quarter valued at about $210,814,000. Hedge funds and other institutional investors own 84.88% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Tigress Financial upped their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Roth Capital reiterated a "buy" rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a report on Friday, July 17th. Robert W. Baird set a $415.00 price objective on Snap-On in a report on Friday, July 24th. Finally, Barclays initiated coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.20.
Check Out Our Latest Stock Analysis on SNA
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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