Snap-On (NYSE:SNA) CEO Sells $7,667,164.05 in Stock

Snap-On Incorporated (NYSE:SNA) CEO Nicholas Pinchuk sold 22,607 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total value of $7,667,164.05. Following the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap-On Trading Up 0.6%

NYSE SNA traded up $1.91 on Tuesday, hitting $340.38. 250,451 shares of the stock were exchanged, compared to its average volume of 359,002. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.33 and a beta of 0.78. The company’s 50-day moving average price is $339.25 and its two-hundred day moving average price is $328.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $368.54.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $4.70 earnings per share. Snap-On’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. The ex-dividend date is Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.9%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is presently 51.18%.

Hedge Funds Weigh In On Snap-On

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tobam bought a new position in shares of Snap-On in the 2nd quarter worth $29,000. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On during the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. SJS Investment Consulting Inc. lifted its stake in Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after acquiring an additional 94 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of Snap-On in the first quarter worth $34,000. 84.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SNA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Tigress Financial lifted their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Robert W. Baird upped their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Roth Capital reaffirmed a “buy” rating and set a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.00.

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.