Insider Selling: Snap-On (NYSE:SNA) VP Sells 800 Shares of Stock

Snap-On Incorporated (NYSE:SNA) VP Marty Ozolins sold 800 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the transaction, the vice president directly owned 1,526 shares of the company’s stock, valued at approximately $610,400. The trade was a 34.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Price Performance

Shares of NYSE SNA traded down $1.54 during midday trading on Thursday, reaching $395.94. 207,741 shares of the company were exchanged, compared to its average volume of 363,992. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a one year low of $319.20 and a one year high of $423.02. The stock has a market cap of $20.48 billion, a P/E ratio of 20.19, a PEG ratio of 2.78 and a beta of 0.73. The stock’s 50-day moving average price is $403.90 and its 200-day moving average price is $385.04.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.Snap-On’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.72 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Snap-On’s dividend payout ratio is presently 49.77%.

Snap-On declared that its Board of Directors has initiated a stock buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Roth Capital restated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial raised their target price on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Finally, Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.20.

Hedge Funds Weigh In On Snap-On

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Snap-On by 15.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 1,185 shares during the period. Woodline Partners LP increased its position in Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after buying an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after buying an additional 233 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Snap-On by 32.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after buying an additional 434 shares during the period. Finally, Natixis lifted its position in shares of Snap-On by 136.8% during the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after buying an additional 1,761 shares during the last quarter. 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.