Insider Selling: Snap-on Incorporated (NYSE:SNA) CFO Sells 6,909 Shares of Stock

Snap-on Incorporated (NYSE:SNA) CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snap-on Trading Down 0.2 %

SNA stock traded down $0.60 on Thursday, reaching $337.67. The company’s stock had a trading volume of 371,050 shares, compared to its average volume of 314,540. The firm has a market cap of $17.73 billion, a PE ratio of 17.38, a PEG ratio of 2.35 and a beta of 0.98. The business has a fifty day simple moving average of $344.32 and a two-hundred day simple moving average of $298.84. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. Snap-on’s dividend payout ratio is 44.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Aurora Investment Counsel grew its holdings in Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after purchasing an additional 30 shares during the period. Lake Street Advisors Group LLC increased its position in Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after buying an additional 32 shares in the last quarter. Metis Global Partners LLC raised its stake in Snap-on by 1.9% during the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after buying an additional 32 shares during the last quarter. Tradition Wealth Management LLC boosted its holdings in Snap-on by 3.1% in the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after acquiring an additional 35 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in Snap-on by 2.5% in the third quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock worth $442,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of several recent research reports. Barrington Research raised their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America upped their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Roth Mkm upped their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and an average target price of $345.40.

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.