Snap-On Incorporated (NYSE:SNA – Get Free Report) SVP Timothy Chambers sold 9,111 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total value of $3,820,788.96. Following the completion of the transaction, the senior vice president owned 21,223 shares in the company, valued at $8,900,077.28. The trade was a 30.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Snap-On Stock Up 3.1%
SNA stock opened at $420.22 on Wednesday. The stock has a market cap of $21.74 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.87 and a beta of 0.73. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $391.65 and its two-hundred day simple moving average is $379.39. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $420.91.
Snap-On (NYSE:SNA – Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $4.72 EPS. Analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.
Snap-On Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s dividend payout ratio is presently 49.77%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Roth Capital restated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Finally, Robert W. Baird set a $415.00 target price on shares of Snap-On in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $418.20.
Read Our Latest Stock Analysis on Snap-On
Institutional Trading of Snap-On
Several hedge funds and other institutional investors have recently bought and sold shares of SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On during the fourth quarter worth approximately $25,000. DV Equities LLC purchased a new stake in shares of Snap-On in the 4th quarter valued at $25,000. Western Wealth Management LLC bought a new position in shares of Snap-On during the 1st quarter valued at $29,000. Montag A & Associates Inc. grew its holdings in shares of Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC purchased a new position in Snap-On in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.
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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