Snap-On (NYSE:SNA) VP Richard Thomas Miller Sells 427 Shares of Stock

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 427 shares of the company’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 sale, the vice president owned 4,527 shares of the company’s stock, valued at $1,763,492.85. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Price Performance

Shares of SNA stock opened at $385.10 on Friday. Snap-On Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 2.66 and a beta of 0.73. The stock has a fifty day simple moving average of $374.44 and a two-hundred day simple moving average of $366.97. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $4.51 earnings per share. Snap-On’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On announced that its Board of Directors has authorized a stock buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio is currently 50.39%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SNA. Kennebec Savings Bank increased its position in Snap-On by 3.6% during the 4th quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after buying an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares in the last quarter. Verition Fund Management LLC increased its position in Snap-On by 1.5% during the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after buying an additional 28 shares in the last quarter. CWM LLC increased its position in Snap-On by 0.6% during the 4th quarter. CWM LLC now owns 5,517 shares of the company’s stock valued at $1,901,000 after buying an additional 31 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in Snap-On by 2.5% during the 4th quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock valued at $483,000 after buying an additional 34 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on SNA shares. Robert W. Baird boosted their price target on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Barclays started coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target for the company. Roth Mkm reissued a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Finally, Tigress Financial boosted their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $387.67.

About Snap-On

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.