Snap-On (NYSE:SNA) VP Richard Thomas Miller Sells 2,000 Shares

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the transaction, the vice president owned 4,158 shares in the company, valued at approximately $1,448,106.66. This represents a 32.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richard Thomas Miller also recently made the following trade(s):

• On Wednesday, December 3rd, Richard Thomas Miller sold 1,728 shares of Snap-On stock. The stock was sold at an average price of $344.70, for a total transaction of $595,641.60.

Snap-On Trading Down 0.1%

SNA opened at $345.86 on Friday. The company has a market cap of $17.99 billion, a P/E ratio of 18.13, a PEG ratio of 2.60 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $339.55 and its 200-day moving average is $328.85. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $365.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.70 EPS. Equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a $2.44 dividend. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s payout ratio is presently 51.18%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SNA shares. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Roth Capital restated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Tigress Financial increased their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Finally, Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Institutional Trading of Snap-On

Large investors have recently modified their holdings of the stock. Advisors Capital Management LLC raised its holdings in shares of Snap-On by 5.3% during the first quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after purchasing an additional 63 shares during the period. Jump Financial LLC increased its position in Snap-On by 367.7% in the 1st quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock valued at $1,861,000 after buying an additional 4,342 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Snap-On in the 1st quarter valued at about $1,986,000. Ascent Group LLC acquired a new position in Snap-On during the 1st quarter worth approximately $421,000. Finally, Caxton Associates LLP bought a new position in Snap-On in the first quarter worth approximately $946,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

About Snap-On

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.