Snap-on (NYSE:SNA) Shares Gap Down to $283.50

Shares of Snap-on Incorporated (NYSE:SNA) gapped down before the market opened on Thursday . The stock had previously closed at $283.50, but opened at $273.67. Snap-on shares last traded at $265.74, with a volume of 122,384 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on SNA shares. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday. Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday. Finally, Tigress Financial restated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Snap-on currently has an average rating of “Hold” and a consensus target price of $306.00.

Snap-on Stock Down 5.4 %

The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $283.74 and a 200 day simple moving average of $278.27. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 2.02 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 8th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm posted $4.42 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts expect that Snap-on Incorporated will post 19.22 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were paid a $1.86 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.77%. Snap-on’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snap-on news, SVP Anup R. Banerjee sold 12,397 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $283.13, for a total value of $3,509,962.61. Following the sale, the senior vice president now directly owns 11,420 shares in the company, valued at $3,233,344.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock valued at $13,399,449 over the last 90 days. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Snap-on

Hedge funds have recently made changes to their positions in the stock. Scarborough Advisors LLC purchased a new position in shares of Snap-on in the fourth quarter valued at $30,000. Clear Street Markets LLC grew its position in Snap-on by 96.3% during the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after buying an additional 52 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Snap-on during the fourth quarter worth about $33,000. Parkside Financial Bank & Trust grew its position in Snap-on by 57.3% during the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after buying an additional 47 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Snap-on during the fourth quarter worth about $43,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.