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 stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president owned 4,529 shares in the company, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $389.55, for a total value of $166,337.85.

Snap-On Stock Performance

Shares of NYSE:SNA traded up $8.81 during trading on Thursday, hitting $412.09. 414,183 shares of the company traded hands, compared to its average volume of 372,612. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $379.51 and its 200-day moving average is $371.82. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.83 and a beta of 0.73. Snap-On Incorporated has a one year low of $310.23 and a one year high of $412.33.

Snap-On (NYSE:SNA) last announced 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). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $4.51 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its board has initiated a share repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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 paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Analysts Set New Price Targets

SNA has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Barclays initiated 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. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Finally, Robert W. Baird raised their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SNA. Versant Capital Management Inc lifted its holdings in Snap-On by 11.2% in the second quarter. Versant Capital Management Inc now owns 1,890 shares of the company’s stock worth $761,000 after purchasing an additional 191 shares during the period. CX Institutional increased its stake in Snap-On by 10.6% during the 2nd quarter. CX Institutional now owns 447 shares of the company’s stock valued at $180,000 after buying an additional 43 shares during the period. DV Trading LLC bought a new stake in shares of Snap-On during the 1st quarter worth about $247,000. Parallel Advisors LLC raised its position in shares of Snap-On by 13.6% during the 1st quarter. Parallel Advisors LLC now owns 753 shares of the company’s stock worth $274,000 after buying an additional 90 shares in the last quarter. Finally, Cozad Asset Management Inc. lifted its stake in shares of Snap-On by 3.6% in the 1st quarter. Cozad Asset Management Inc. now owns 7,675 shares of the company’s stock worth $2,788,000 after acquiring an additional 264 shares during the period. Institutional investors 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.