Snap-on Incorporated (NYSE:SNA) Director Sells $348,712.80 in Stock

Snap-on Incorporated (NYSE:SNA) Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director now directly owns 8,030 shares of the company’s stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snap-on Price Performance

SNA stock opened at $321.91 on Friday. The business has a fifty day moving average of $319.41 and a two-hundred day moving average of $335.77. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the business earned $4.91 earnings per share. As a group, research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.66%. Snap-on’s dividend payout ratio is currently 44.82%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNA. Robert W. Baird cut their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Wall Street Zen raised Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Monday, March 31st. Finally, Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and a consensus target price of $350.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in Snap-on in the first quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new position in Snap-on in the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on in the fourth quarter valued at $28,000. Golden State Wealth Management LLC boosted its holdings in Snap-on by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in Snap-on by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.