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

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president directly owned 4,529 shares of the company’s stock, valued at $1,838,411.68. This represents a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 10th, Richard Thomas Miller sold 427 shares of Snap-On stock. The stock was sold at an average price of $389.55, for a total transaction of $166,337.85.

Snap-On Stock Performance

Snap-On stock opened at $412.09 on Friday. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $412.33. The firm’s 50 day simple moving average is $380.65 and its 200-day simple moving average is $372.53. 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 company has a market cap of $21.35 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.90 and a beta of 0.73.

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

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. Snap-On’s dividend payout ratio is presently 50.39%.

Snap-On announced that its Board of Directors has approved a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SNA has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Robert W. Baird raised their price objective 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 assumed coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Finally, 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. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $387.67.

Hedge Funds Weigh In On Snap-On

Hedge funds have recently modified their holdings of the stock. Kennebec Savings Bank grew its stake in Snap-On by 3.6% in the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after purchasing an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 28 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of Snap-On by 1.5% during the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock worth $635,000 after purchasing an additional 28 shares in the last quarter. CWM LLC lifted its holdings in shares of 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 during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Snap-On by 2.5% in 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 and hedge funds.

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.