Snap-on (NYSE:SNA) Releases Earnings Results, Beats Expectations By $0.09 EPS

Snap-on (NYSE:SNA) announced 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 company 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%. Snap-on’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.60 EPS.

Snap-on Stock Performance

Snap-on stock opened at $261.76 on Friday. The firm’s 50 day simple moving average is $283.65 and its 200 day simple moving average is $278.16. The firm has a market capitalization of $13.83 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. Snap-on has a 1-year low of $239.08 and a 1-year high of $298.49. The company has a current ratio of 3.88, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23.

Snap-on Dividend Announcement

The company also recently announced 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. This represents a $7.44 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is presently 39.68%.

Analysts Set New Price Targets

A number of analysts recently commented on SNA shares. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Robert W. Baird dropped their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday. Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Monday. Finally, Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $301.40.

Insider Transactions at Snap-on

In other news, CFO Aldo John Pagliari sold 3,231 shares of the 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 transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Aldo John Pagliari sold 3,231 shares of the 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 transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction 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 directly owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold 47,368 shares of company stock valued at $13,399,449 in the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

Institutional investors have recently made changes to their positions in the business. Clear Street Markets LLC boosted 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 valued at $26,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after purchasing an additional 47 shares in the last quarter. Quarry LP boosted its stake in shares of Snap-on by 384.4% in the 2nd quarter. Quarry LP now owns 155 shares of the company’s stock valued at $45,000 after purchasing an additional 123 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Snap-on by 42.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 212 shares of the company’s stock valued at $61,000 after purchasing an additional 63 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Snap-on by 7,566.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 230 shares of the company’s stock valued at $47,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.