Insider Selling: Snap-on Incorporated (NYSE:SNA) SVP Sells 2,562 Shares of Stock

Snap-on Incorporated (NYSE:SNA) SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now directly owns 8,663 shares in the company, valued at approximately $2,333,379.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap-on Price Performance

Shares of NYSE SNA traded up $0.54 during midday trading on Friday, hitting $270.70. 237,139 shares of the company’s stock were exchanged, compared to its average volume of 313,779. The business’s fifty day moving average price is $284.21 and its two-hundred day moving average price is $278.66. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.89 and a beta of 0.99. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.75%. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Hedge Funds Weigh In On Snap-on

A number of large investors have recently modified their holdings of the company. Royal London Asset Management Ltd. raised its stake in shares of Snap-on by 12.7% during the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after acquiring an additional 2,542 shares in the last quarter. Caprock Group LLC purchased a new position in Snap-on in the 4th quarter worth $1,203,000. Cerity Partners LLC lifted its stake in Snap-on by 275.7% in the fourth quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock worth $2,292,000 after purchasing an additional 5,825 shares during the last quarter. Vision Capital Management Inc. purchased a new stake in Snap-on during the fourth quarter valued at about $2,377,000. Finally, Raymond James & Associates increased its holdings in shares of Snap-on by 3.9% in the fourth quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock worth $102,584,000 after buying an additional 13,225 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SNA. Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Robert W. Baird lowered their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Barrington Research restated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $316.75.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.