Insider Selling: Snap-on Incorporated (NYSE:SNA) SVP Sells 8,434 Shares of Stock

Snap-on Incorporated (NYSE:SNAGet Free Report) SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total value of $2,236,443.78. Following the sale, the senior vice president now directly owns 252 shares in the company, valued at approximately $66,822.84. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Snap-on Trading Up 1.1 %

Shares of NYSE:SNA opened at $268.27 on Friday. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.83 and a beta of 1.00. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The company has a 50 day moving average price of $280.54 and a 200 day moving average price of $281.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

Snap-on (NYSE:SNAGet Free Report) last announced its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. Snap-on’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.60 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Institutional Investors Weigh In On Snap-on

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock valued at $325,509,000 after purchasing an additional 26,260 shares in the last quarter. Earnest Partners LLC increased its position in Snap-on by 9.9% in the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock worth $275,399,000 after purchasing an additional 83,686 shares during the last quarter. Nordea Investment Management AB increased its holdings in Snap-on by 3.2% in the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock worth $265,217,000 after buying an additional 27,429 shares during the last quarter. Northern Trust Corp lifted its stake in Snap-on by 4.6% in the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock valued at $212,758,000 after acquiring an additional 36,556 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Snap-on by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock worth $223,304,000 after acquiring an additional 3,449 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNA. Robert W. Baird cut their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Wednesday, May 22nd. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $316.75.

Read Our Latest Analysis on Snap-on

About Snap-on

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Snap-on (NYSE:SNA)

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