Snap-On (NYSE:SNA) Issues Quarterly Earnings Results

Snap-On (NYSE:SNA) announced its quarterly earnings data on Thursday. The company reported $4.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.93 by ($0.29), Zacks reports. Snap-On had a return on equity of 17.07% and a net margin of 21.25%. During the same quarter in the prior year, the company posted $4.71 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year.

Snap-On Stock Down 5.4%

Shares of SNA traded down $19.77 during midday trading on Thursday, reaching $349.14. 345,782 shares of the stock were exchanged, compared to its average volume of 350,562. The company has a market capitalization of $18.06 billion, a P/E ratio of 17.83, a PEG ratio of 2.43 and a beta of 0.71. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On has a 52 week low of $320.80 and a 52 week high of $423.02. The company’s 50 day moving average is $377.17 and its two-hundred day moving average is $384.62.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.8%. Snap-On’s dividend payout ratio is 49.77%.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas Pinchuk sold 22,889 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares in the company, valued at $346,842,588.51. This represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the sale, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at $48,770,337. The trade was a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 38,331 shares of company stock valued at $15,525,200. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Tigress Financial increased their target price on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Roth Capital reissued a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Barclays cut their price target on shares of Snap-On from $450.00 to $435.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Robert W. Baird set a $415.00 price target on shares of Snap-On in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $449.00.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.