Snap-On (NYSE:SNA) SVP Sells $163,158.27 in Stock

Snap-On Incorporated (NYSE:SNA) SVP Timothy Chambers sold 389 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $419.43, for a total transaction of $163,158.27. Following the transaction, the senior vice president directly owned 21,223 shares of the company’s stock, valued at $8,901,562.89. The trade was a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Stock Performance

Shares of NYSE:SNA traded up $10.69 during trading hours on Tuesday, hitting $418.11. The stock had a trading volume of 96,493 shares, compared to its average volume of 371,585. The stock’s fifty day simple moving average is $390.45 and its 200 day simple moving average is $378.91. The firm has a market capitalization of $21.63 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.85 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $420.17.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted $4.72 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Snap-On Incorporated will post 19.67 earnings per share for the current fiscal year.

Snap-On declared that its Board of Directors has approved a share repurchase plan on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, May 20th. Snap-On’s payout ratio is 49.77%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research note on Friday. Roth Capital reissued a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday. Finally, Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $418.20.

Hedge Funds Weigh In On Snap-On

A number of institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Snap-On in the fourth quarter worth about $25,000. DV Equities LLC purchased a new stake in shares of Snap-On in the fourth quarter valued at $25,000. Western Wealth Management LLC acquired a new stake in shares of Snap-On in the first quarter worth $29,000. Montag A & Associates Inc. grew its holdings in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new position in Snap-On during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.