Snap-On (NYSE:SNA) SVP Timothy Chambers Sells 389 Shares of Stock

Snap-On Incorporated (NYSE:SNA) SVP Timothy Chambers sold 389 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of $419.43, for a total value of $163,158.27. Following the sale, the senior vice president owned 21,223 shares of the company’s stock, valued at approximately $8,901,562.89. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Stock Performance

Shares of NYSE SNA opened at $420.22 on Wednesday. The business’s 50-day moving average price is $391.65 and its two-hundred day moving average price is $379.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a one year low of $312.78 and a one year high of $420.91. The company has a market capitalization of $21.74 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 2.87 and a beta of 0.73.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $4.72 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On declared that its board has approved a share repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.3%. Snap-On’s payout ratio is presently 49.77%.

Analyst Ratings Changes

A number of analysts have issued reports on SNA shares. Roth Capital reiterated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Robert W. Baird set a $415.00 price target on shares of Snap-On in a report on Friday. Finally, Barclays began coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $418.20.

Institutional Investors Weigh In On Snap-On

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Snap-On during the fourth quarter valued at approximately $25,000. DV Equities LLC acquired a new stake in shares of Snap-On in the fourth quarter worth $25,000. Western Wealth Management LLC bought a new stake in shares of Snap-On during the 1st quarter worth $29,000. Montag A & Associates Inc. boosted 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 worth $33,000 after buying an additional 73 shares during the period. Finally, Quattro Advisors LLC acquired a new position in Snap-On in the 4th quarter valued at $35,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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.