Snap-On (NYSE:SNA) CEO Nicholas Pinchuk Sells 22,607 Shares

Snap-On Incorporated (NYSE:SNA) CEO Nicholas Pinchuk sold 22,607 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the transaction, the chief executive officer directly owned 826,364 shares in the company, valued at $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Snap-On Stock Performance

SNA stock traded up $1.91 during mid-day trading on Tuesday, hitting $340.38. 250,451 shares of the company were exchanged, compared to its average volume of 359,002. The stock has a market capitalization of $17.70 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78. The business has a 50 day simple moving average of $339.25 and a 200-day simple moving average of $328.56. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $368.54.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.70 EPS. On average, equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a dividend of $2.44 per share. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a yield of 2.9%. Snap-On’s dividend payout ratio is 51.18%.

Hedge Funds Weigh In On Snap-On

Several institutional investors have recently added to or reduced their stakes in SNA. LPL Financial LLC increased its stake in shares of Snap-On by 2.4% in the 1st quarter. LPL Financial LLC now owns 75,537 shares of the company’s stock valued at $25,457,000 after acquiring an additional 1,773 shares in the last quarter. Baker Avenue Asset Management LP acquired a new position in shares of Snap-On during the first quarter valued at about $250,000. PNC Financial Services Group Inc. boosted its position in shares of Snap-On by 0.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,805 shares of the company’s stock worth $10,045,000 after purchasing an additional 110 shares in the last quarter. Argent Trust Co acquired a new stake in shares of Snap-On in the 1st quarter valued at about $582,000. Finally, Blair William & Co. IL increased its position in Snap-On by 1.8% in the 1st quarter. Blair William & Co. IL now owns 7,834 shares of the company’s stock valued at $2,640,000 after buying an additional 141 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Robert W. Baird boosted their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Tigress Financial increased their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

Snap-On Company Profile

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.