Jesus Arregui Sells 4,251 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) SVP Jesus Arregui sold 4,251 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the sale, the senior vice president owned 4,439 shares in the company, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Snap-On Price Performance

SNA opened at $387.01 on Friday. The firm has a market cap of $20.05 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88. The company’s 50-day moving average price is $374.84 and its 200 day moving average price is $367.11. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $4.51 EPS. Snap-On’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Snap-On declared that its board has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Snap-On

A number of large investors have recently added to or reduced their stakes in the business. Kennebec Savings Bank boosted its holdings in Snap-On by 3.6% during the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after buying an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 28 shares during the period. Verition Fund Management LLC boosted its stake in Snap-On by 1.5% in the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock worth $635,000 after purchasing an additional 28 shares during the period. CWM LLC boosted its stake in Snap-On by 0.6% in the 4th quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after purchasing an additional 31 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in Snap-On by 2.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after purchasing an additional 34 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNA. Robert W. Baird increased their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Roth Mkm reiterated a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Tigress Financial increased their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Finally, Barclays began coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

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.