Richard Thomas Miller Sells 2,000 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the transaction, the vice president owned 4,158 shares of the company’s stock, valued at $1,448,106.66. The trade was a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Richard Thomas Miller also recently made the following trade(s):

• On Wednesday, December 3rd, Richard Thomas Miller sold 1,728 shares of Snap-On stock. The shares were sold at an average price of $344.70, for a total value of $595,641.60.

Snap-On Price Performance

NYSE:SNA traded up $1.77 during mid-day trading on Thursday, reaching $346.11. The stock had a trading volume of 347,871 shares, compared to its average volume of 358,446. The stock has a market capitalization of $18.00 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.55 and a beta of 0.78. The firm has a 50 day moving average price of $339.36 and a two-hundred day moving average price of $328.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. Snap-On Incorporated has a one year low of $289.81 and a one year high of $365.78.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $4.70 earnings per share. As a group, analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, November 21st. This is a boost from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is 51.18%.

Institutional Trading of Snap-On

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNA. Vanguard Group Inc. increased its position in Snap-On by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after purchasing an additional 80,422 shares during the period. State Street Corp lifted its position in shares of Snap-On by 1.6% in the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company’s stock worth $777,603,000 after purchasing an additional 36,130 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after purchasing an additional 36,421 shares in the last quarter. First Trust Advisors LP increased its position in shares of Snap-On by 1.3% during the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after buying an additional 23,863 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in Snap-On in the second quarter worth about $434,938,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SNA shares. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Tigress Financial raised their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Robert W. Baird boosted their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Finally, Roth Capital reissued a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

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.