Snap-on (NYSE:SNA) Announces Quarterly Earnings Results

Snap-on (NYSE:SNA) issued its quarterly earnings results on Thursday. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09, Briefing.com reports. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $4.60 earnings per share.

Snap-on Trading Down 7.7 %

SNA opened at $261.76 on Friday. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 2.03 and a beta of 0.99. Snap-on has a one year low of $239.08 and a one year high of $298.49. The business has a 50 day simple moving average of $283.65 and a two-hundred day simple moving average of $278.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.84%. Snap-on’s dividend payout ratio is presently 39.68%.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent research reports. Robert W. Baird reduced their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Monday. Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday. Finally, Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has an average rating of “Hold” and an average target price of $301.40.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,368 shares of company stock worth $13,399,449. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SNA. Clear Street Markets LLC grew its stake in shares of Snap-on by 96.3% in the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after buying an additional 52 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Snap-on by 57.3% in the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after acquiring an additional 47 shares during the last quarter. Quarry LP grew its stake in shares of Snap-on by 384.4% in the second quarter. Quarry LP now owns 155 shares of the company’s stock worth $45,000 after acquiring an additional 123 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Snap-on by 42.3% during the second quarter. Point72 Asset Management L.P. now owns 212 shares of the company’s stock valued at $61,000 after acquiring an additional 63 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Snap-on by 7,566.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 230 shares of the company’s stock worth $47,000 after purchasing an additional 227 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Company Profile

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.