Snap-On (NYSE:SNA) VP Richard Thomas Miller Sells 1,728 Shares of Stock

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 1,728 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $344.70, for a total transaction of $595,641.60. Following the transaction, the vice president directly owned 4,158 shares of the company’s stock, valued at approximately $1,433,262.60. This trade represents a 29.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Richard Thomas Miller also recently made the following trade(s):

• On Thursday, December 4th, Richard Thomas Miller sold 2,000 shares of Snap-On stock. The stock was sold at an average price of $348.27, for a total value of $696,540.00.

Snap-On Price Performance

SNA stock traded down $0.66 during trading on Friday, hitting $345.47. The stock had a trading volume of 5,598 shares, compared to its average volume of 356,924. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $365.78. The company’s 50 day moving average price is $339.55 and its two-hundred day moving average price is $328.85. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 2.60 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

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

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is currently 51.18%.

Hedge Funds Weigh In On Snap-On

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Snap-On by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after purchasing an additional 80,422 shares during the period. State Street Corp grew its holdings in Snap-On by 1.6% in the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company’s stock worth $777,603,000 after buying an additional 36,130 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after acquiring an additional 36,421 shares in the last quarter. First Trust Advisors LP boosted its position in Snap-On by 1.3% during the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock worth $664,149,000 after acquiring an additional 23,863 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Snap-On during the second quarter valued at $434,938,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNA shares. Robert W. Baird boosted their price target on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Tigress Financial raised their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and an average target price 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.