Snap-on (NYSE:SNA) Issues Quarterly Earnings Results

Snap-on (NYSE:SNA) posted its quarterly earnings data on Thursday. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09, Briefing.com reports. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $4.60 EPS.

Snap-on Price Performance

Shares of NYSE:SNA opened at $268.80 on Friday. The stock has a market cap of $14.20 billion, a PE ratio of 14.10, a PEG ratio of 1.87 and a beta of 0.99. The company’s fifty day moving average is $283.78 and its 200 day moving average is $278.27. Snap-on has a 52 week low of $245.73 and a 52 week high of $298.49. The company has a quick ratio of 2.81, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock worth $13,399,449 in the last 90 days. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap-on

A number of large investors have recently added to or reduced their stakes in SNA. MetLife Investment Management LLC grew its holdings in Snap-on by 22.4% in the 1st quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock worth $2,985,000 after acquiring an additional 2,657 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Snap-on by 6.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,150 shares of the company’s stock valued at $1,469,000 after purchasing an additional 407 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Snap-on by 11.3% during the 1st quarter. Sei Investments Co. now owns 125,365 shares of the company’s stock valued at $25,727,000 after purchasing an additional 12,720 shares in the last quarter. Aviva PLC boosted its stake in shares of Snap-on by 12.3% during the 1st quarter. Aviva PLC now owns 33,102 shares of the company’s stock valued at $6,802,000 after purchasing an additional 3,636 shares in the last quarter. Finally, Prudential PLC bought a new stake in shares of Snap-on during the 1st quarter valued at about $302,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research reports. Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Robert W. Baird reduced their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and an average price target of $301.40.

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.