Timothy Chambers Sells 9,111 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) SVP Timothy Chambers sold 9,111 shares of Snap-On stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the completion of the transaction, the senior vice president directly owned 21,223 shares in the company, valued at $8,900,077.28. This represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Trading Down 1.0%

Shares of NYSE:SNA opened at $415.18 on Thursday. The business’s 50-day moving average is $392.69 and its 200 day moving average is $379.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a 1 year low of $312.78 and a 1 year high of $420.91. The firm has a market capitalization of $21.48 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.95 and a beta of 0.73.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $4.72 earnings per share. On average, research analysts predict 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 authorized a share repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Barclays initiated coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday, July 24th. Finally, Roth Capital reissued a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $418.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kennebec Savings Bank grew its position in Snap-On by 3.6% in the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after acquiring an additional 27 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its position in Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares during the last quarter. Verition Fund Management LLC boosted its stake in Snap-On by 1.5% during the fourth quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock worth $635,000 after buying an additional 28 shares during the period. CWM LLC boosted its stake in Snap-On by 0.6% during the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after buying an additional 31 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in Snap-On by 2.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock valued at $483,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other 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.