Nicholas Pinchuk Sells 23,229 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) CEO Nicholas Pinchuk sold 23,229 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the transaction, the chief executive officer owned 846,562 shares in the company, valued at approximately $324,538,008.32. The trade was a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snap-On Stock Down 0.2%

SNA traded down $0.84 on Monday, reaching $385.04. The company’s stock had a trading volume of 391,058 shares, compared to its average volume of 349,884. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 2.66 and a beta of 0.81. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $363.98 and a two-hundred day moving average of $345.84.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the company earned $4.82 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be paid a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Snap-On’s dividend payout ratio is currently 50.86%.

Hedge Funds Weigh In On Snap-On

Several institutional investors have recently bought and sold shares of SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 1,185 shares in the last quarter. Woodline Partners LP increased its holdings in Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after buying an additional 1,273 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Snap-On by 146.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock valued at $78,000 after acquiring an additional 148 shares during the period. Brookstone Capital Management boosted its stake in shares of Snap-On by 5.5% during the 2nd quarter. Brookstone Capital Management now owns 1,831 shares of the company’s stock worth $570,000 after acquiring an additional 96 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Snap-On by 2.6% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 142,019 shares of the company’s stock worth $44,193,000 after acquiring an additional 3,578 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNA has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Roth Mkm reiterated a “buy” rating and issued a $409.00 price objective (up previously from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 price objective on Snap-On in a report on Friday, February 6th. Finally, Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $370.67.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.