Snap-On (NYSE:SNA) CFO Aldo John Pagliari Sells 5,531 Shares of Stock

Snap-On Incorporated (NYSE:SNA) CFO Aldo John Pagliari sold 5,531 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the sale, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aldo John Pagliari also recently made the following trade(s):

• On Thursday, June 4th, Aldo John Pagliari sold 1,330 shares of Snap-On stock. The shares were sold at an average price of $379.27, for a total value of $504,429.10.

Snap-On Stock Performance

NYSE:SNA opened at $404.57 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. Snap-On Incorporated has a fifty-two week low of $319.20 and a fifty-two week high of $423.02. The firm has a market cap of $20.93 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.87 and a beta of 0.73. The business has a 50 day moving average price of $401.69 and a 200-day moving average price of $383.48.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company posted $4.72 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On announced that its Board of Directors has authorized a share buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Institutional Trading of Snap-On

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after purchasing an additional 31,073 shares during the last quarter. BlackRock Inc. bought a new position in shares of Snap-On during the 2nd quarter valued at approximately $1,715,363,000. State Street Corp increased its stake in shares of Snap-On by 1.3% in the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after purchasing an additional 28,071 shares in the last quarter. First Trust Advisors LP increased its stake in Snap-On by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock worth $738,473,000 after buying an additional 65,521 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock worth $693,306,000 after purchasing an additional 39,765 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

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

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.