Insider Selling: Snap-On (NYSE:SNA) SVP Sells 4,251 Shares of Stock

Snap-On Incorporated (NYSE:SNA) SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president owned 4,439 shares of the company’s stock, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Snap-On Trading Up 1.8%

Shares of NYSE SNA traded up $6.65 during mid-day trading on Thursday, hitting $385.10. 300,747 shares of the company traded hands, compared to its average volume of 367,865. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.72 and a beta of 0.73. 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 has a 50 day moving average of $374.00 and a two-hundred day moving average of $366.63.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $4.51 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its Board of Directors has approved a share buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Institutional Investors Weigh In On Snap-On

A number of hedge funds and other institutional investors have recently made changes to their positions in SNA. Thurston Springer Miller Herd & Titak Inc. bought a new position in Snap-On during the 4th quarter worth $25,000. DV Equities LLC bought a new position in shares of Snap-On in the fourth quarter worth $25,000. GoalVest Advisory LLC acquired a new position in Snap-On in the fourth quarter valued at about $28,000. Western Wealth Management LLC bought a new stake in Snap-On during the first quarter worth about $29,000. Finally, Montag A & Associates Inc. lifted its position in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNA. Robert W. Baird lifted their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Barclays began coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Tigress Financial lifted their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Roth Mkm reissued a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $387.67.

Snap-On Company Profile

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.