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

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 427 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $389.55, for a total transaction of $166,337.85. Following the transaction, the vice president directly owned 4,527 shares of the company’s stock, valued at $1,763,492.85. The trade was a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Price Performance

SNA stock opened at $387.01 on Friday. The company has a fifty day moving average price of $374.84 and a 200-day moving average price of $367.11. The company has a market capitalization of $20.05 billion, a P/E ratio of 19.98, a PEG ratio of 2.71 and a beta of 0.73. Snap-On Incorporated has a 52-week low of $301.82 and a 52-week high of $400.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53.

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

Snap-On declared that its Board of Directors has authorized a share repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Snap-On Announces Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Snap-On

A number of large investors have recently bought and sold shares of SNA. Auto Owners Insurance Co grew its holdings in Snap-On by 34,360.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock worth $353,279,000 after purchasing an additional 1,022,210 shares during the period. Norges Bank acquired a new stake in Snap-On in the fourth quarter worth $210,814,000. Victory Capital Management Inc. grew its holdings in Snap-On by 346.0% in the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock worth $96,850,000 after purchasing an additional 216,813 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Snap-On in the fourth quarter worth $69,751,000. Finally, UBS Group AG grew its holdings in Snap-On by 30.7% in the fourth quarter. UBS Group AG now owns 617,620 shares of the company’s stock worth $212,832,000 after purchasing an additional 144,926 shares during the period. 84.88% of the stock is currently 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.