Snap-On Incorporated (NYSE:SNA – Get Free Report) VP Richard Thomas Miller sold 427 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the completion of the transaction, the vice president owned 4,527 shares in the company, valued at approximately $1,763,492.85. This trade represents a 8.62% decrease in their ownership of the stock. The transaction 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.
Snap-On Stock Performance
SNA stock opened at $387.01 on Friday. The company has a market cap of $20.05 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.73 and a beta of 0.73. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The stock’s fifty day moving average price is $374.84 and its 200-day moving average price is $367.11.
Snap-On (NYSE:SNA – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $4.51 earnings per share. On average, equities analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current year.
Snap-On Announces Dividend
Snap-On declared that its board has initiated a share buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Barclays assumed coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Tigress Financial raised their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Roth Mkm restated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Finally, Robert W. Baird lifted their target price on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $387.67.
Check Out Our Latest Report on Snap-On
Hedge Funds Weigh In On Snap-On
Several institutional investors and hedge funds have recently bought and sold shares of the stock. DV Trading LLC purchased a new position in Snap-On during the first quarter valued at $247,000. Parallel Advisors LLC lifted its position in Snap-On by 13.6% during the first quarter. Parallel Advisors LLC now owns 753 shares of the company’s stock valued at $274,000 after purchasing an additional 90 shares in the last quarter. Cozad Asset Management Inc. lifted its position in Snap-On by 3.6% during the first quarter. Cozad Asset Management Inc. now owns 7,675 shares of the company’s stock valued at $2,788,000 after purchasing an additional 264 shares in the last quarter. Axiom Investment Management LLC purchased a new position in Snap-On during the first quarter valued at $118,000. Finally, Western Wealth Management LLC purchased a new position in Snap-On during the first quarter valued at $29,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.
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.
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