Snap-On (NYSE:SNA) VP Marty Ozolins Sells 800 Shares of Stock

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

Snap-On Stock Performance

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

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

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is presently 49.77%.

Snap-On declared that its board has approved a share buyback program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNA. Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Robert W. Baird set a $415.00 price target on Snap-On in a research report on Friday, July 24th. Roth Capital restated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Finally, Tigress Financial upped their target price on shares of 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.20.

Institutional Trading of Snap-On

Several institutional investors and hedge funds have recently modified their holdings of the business. Miller Howard Investments Inc. NY bought a new stake in Snap-On in the first quarter worth $51,244,000. QRG Capital Management Inc. raised its position in shares of Snap-On by 9.9% in the 1st quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock worth $31,545,000 after purchasing an additional 7,798 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Snap-On by 21.8% in the 4th quarter. Fisher Asset Management LLC now owns 66,017 shares of the company’s stock worth $22,750,000 after purchasing an additional 11,808 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Snap-On by 0.9% in the 4th quarter. Hsbc Holdings PLC now owns 374,236 shares of the company’s stock worth $128,974,000 after purchasing an additional 3,321 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in Snap-On by 8.0% during the 1st quarter. Sanctuary Advisors LLC now owns 36,690 shares of the company’s stock valued at $13,326,000 after purchasing an additional 2,714 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.