Insider Selling: Snap-on Incorporated (NYSE:SNA) VP Sells 6,044 Shares of Stock

Snap-on Incorporated (NYSE:SNA) VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Snap-on Stock Performance

Shares of Snap-on stock opened at $327.71 on Friday. The business has a 50-day simple moving average of $282.04 and a 200-day simple moving average of $276.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a one year low of $249.84 and a one year high of $328.45. The company has a market cap of $17.26 billion, a PE ratio of 17.03, a P/E/G ratio of 2.06 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business posted $4.89 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 38.67%.

Snap-on announced that its Board of Directors has initiated a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Snap-on

Institutional investors have recently bought and sold shares of the business. Renasant Bank raised its position in shares of Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after acquiring an additional 36 shares in the last quarter. TFB Advisors LLC lifted its position in shares of Snap-on by 3.2% during the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after buying an additional 38 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Snap-on by 1.2% in the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after buying an additional 39 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Snap-on by 4.0% in the 2nd quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after buying an additional 39 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in Snap-on by 2.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock valued at $502,000 after acquiring an additional 39 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNA shares. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird dropped their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Barrington Research raised their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday.

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.