Nicholas T. Pinchuk Sells 22,700 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Snap-on Trading Down 1.9 %

Shares of NYSE SNA opened at $329.09 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $340.12 and its two-hundred day moving average price is $333.11. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The stock has a market capitalization of $17.25 billion, a P/E ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the company posted $4.75 EPS. On average, analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Hedge Funds Weigh In On Snap-on

Large investors have recently bought and sold shares of the business. UMB Bank n.a. grew its holdings in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Snap-on in the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on in the fourth quarter valued at $28,000. Brooklyn Investment Group acquired a new position in shares of Snap-on during the third quarter valued at $39,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Snap-on during the fourth quarter worth about $40,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNA. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Snap-on currently has an average rating of “Hold” and a consensus price target of $346.40.

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.