Snap-On (NYSE:SNA) VP Marty Ozolins Sells 800 Shares of Stock

Snap-On Incorporated (NYSE:SNA) VP Marty Ozolins sold 800 shares of Snap-On stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the completion of the sale, the vice president owned 1,526 shares in the company, valued at $610,400. This trade represents a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Trading Down 0.4%

Shares of NYSE:SNA opened at $395.94 on Friday. Snap-On Incorporated has a one year low of $319.20 and a one year high of $423.02. The stock has a market capitalization of $20.48 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.80 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The company’s 50-day moving average price is $404.06 and its two-hundred day moving average price is $385.23.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the firm posted $4.72 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On declared that its Board of Directors has approved a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 49.77%.

Hedge Funds Weigh In On Snap-On

Large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its position in Snap-On by 37,771.8% during the 2nd quarter. California State Teachers Retirement System now owns 34,015,677 shares of the company’s stock worth $13,687,908,000 after purchasing an additional 33,925,859 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Snap-On by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after acquiring an additional 31,073 shares during the period. BlackRock Inc. bought a new position in shares of Snap-On during the 2nd quarter worth about $1,715,363,000. State Street Corp boosted its holdings in Snap-On by 1.3% in the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after acquiring an additional 28,071 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Snap-On by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock worth $738,473,000 after purchasing an additional 65,521 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SNA. Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Roth Capital reiterated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Tigress Financial upped their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and an average price target of $426.20.

About Snap-On

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.