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

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

Snap-On Stock Up 2.6%

Shares of NYSE SNA traded up $10.69 during trading hours on Tuesday, hitting $418.11. The stock had a trading volume of 96,493 shares, compared to its average volume of 371,585. The firm’s 50-day moving average price is $390.45 and its two-hundred day moving average price is $378.91. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $420.17. The company has a market capitalization of $21.63 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.85 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company earned $4.72 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.67 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 49.77%.

Snap-On announced that its Board of Directors has authorized a share repurchase program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY bought a new stake in Snap-On in the first quarter valued at $51,244,000. First Horizon Corp bought a new position in Snap-On during the 4th quarter valued at about $4,068,000. QRG Capital Management Inc. boosted its position in Snap-On by 9.9% in the first quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock valued at $31,545,000 after buying an additional 7,798 shares in the last quarter. Fisher Asset Management LLC grew its stake in Snap-On by 21.8% during the fourth quarter. Fisher Asset Management LLC now owns 66,017 shares of the company’s stock worth $22,750,000 after buying an additional 11,808 shares during the last quarter. Finally, Novem Group bought a new stake in Snap-On during the fourth quarter worth about $980,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.