Snap-On (NYSE:SNA) VP Sells $534,071.46 in Stock

Snap-On Incorporated (NYSE:SNA) VP June Lemerand sold 1,378 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president directly owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This represents a 32.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Snap-On Stock Performance

Shares of NYSE SNA opened at $384.95 on Friday. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $367.79 and its two-hundred day moving average price is $347.74. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13. The stock has a market capitalization of $19.98 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.67 and a beta of 0.81.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the firm earned $4.82 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be paid 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 Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

Institutional Investors Weigh In On Snap-On

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after purchasing an additional 1,185 shares during the period. Woodline Partners LP boosted its stake in Snap-On by 40.4% during the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after buying an additional 1,273 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Snap-On by 2.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 142,019 shares of the company’s stock worth $44,193,000 after acquiring an additional 3,578 shares during the period. Bessemer Group Inc. raised its position in Snap-On by 7.1% in the second quarter. Bessemer Group Inc. now owns 633 shares of the company’s stock worth $197,000 after acquiring an additional 42 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Snap-On by 20.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,281 shares of the company’s stock worth $5,066,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Tigress Financial lifted their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Roth Mkm reissued a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five equities 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 company’s stock. Based on data from MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and an average price target of $377.33.

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.