Snap-on (NYSE:SNA) Announces Earnings Results, Beats Expectations By $0.09 EPS

Snap-on (NYSE:SNA) released its quarterly earnings results on Thursday. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09, Briefing.com reports. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $4.60 EPS. The business’s revenue was down .1% on a year-over-year basis.

Snap-on Trading Down 7.7 %

Shares of NYSE:SNA opened at $261.76 on Friday. Snap-on has a 12-month low of $239.08 and a 12-month high of $298.49. The business has a 50 day moving average of $283.65 and a 200-day moving average of $278.16. The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23. The stock has a market cap of $13.83 billion, a PE ratio of 13.96, a P/E/G ratio of 2.03 and a beta of 0.99.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.84%. Snap-on’s dividend payout ratio is currently 39.68%.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,368 shares of company stock worth $13,399,449. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Clear Street Markets LLC grew its holdings in shares of Snap-on by 96.3% during the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares during the last quarter. Quarry LP boosted its holdings in shares of Snap-on by 384.4% during the 2nd quarter. Quarry LP now owns 155 shares of the company’s stock valued at $45,000 after acquiring an additional 123 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Snap-on by 7,566.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 230 shares of the company’s stock worth $47,000 after acquiring an additional 227 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its holdings in Snap-on by 1,525.0% in the 1st quarter. Zions Bancorporation N.A. now owns 260 shares of the company’s stock worth $53,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNA. Tigress Financial restated a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Robert W. Baird cut 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 note on Friday. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.