Snap-On (NYSE:SNA) SVP Jesus Arregui Sells 4,251 Shares

Snap-On Incorporated (NYSE:SNA) SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president directly owned 4,439 shares of the company’s stock, valued at $1,704,220.88. The trade was a 48.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snap-On Trading Up 1.8%

NYSE SNA traded up $6.65 on Thursday, reaching $385.10. The company had a trading volume of 300,747 shares, compared to its average volume of 367,865. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The business has a 50 day moving average of $374.00 and a two-hundred day moving average of $366.63. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 2.72 and a beta of 0.73.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share 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 during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $4.51 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. Analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

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

Snap-On declared that its board has initiated a share buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Snap-On

Several large investors have recently made changes to their positions in SNA. Auto Owners Insurance Co grew its holdings in Snap-On by 34,360.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after buying an additional 1,022,210 shares in the last quarter. Norges Bank bought a new position in shares of Snap-On in the fourth quarter valued at approximately $210,814,000. Victory Capital Management Inc. grew its stake in Snap-On by 346.0% during the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after acquiring an additional 216,813 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Snap-On during the 4th quarter worth approximately $69,751,000. Finally, UBS Group AG increased its holdings in Snap-On by 30.7% during the 4th quarter. UBS Group AG now owns 617,620 shares of the company’s stock worth $212,832,000 after acquiring an additional 144,926 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.