Snap-On (NYSE:SNA) SVP Jesus Arregui Sells 4,251 Shares of Stock

Snap-On Incorporated (NYSE:SNA) SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the transaction, the senior vice president owned 4,439 shares in the company, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Snap-On Stock Performance

Snap-On stock opened at $385.10 on Friday. The stock’s 50-day moving average is $374.44 and its 200-day moving average is $366.97. The company has a market cap of $19.95 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. Snap-On Incorporated has a 12 month low of $301.82 and a 12 month high of $400.88.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company posted $4.51 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Snap-On announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Snap-On

Several large investors have recently modified their holdings of the stock. DV Trading LLC bought a new position in shares of Snap-On during the first quarter worth about $247,000. Parallel Advisors LLC lifted its position in shares of Snap-On by 13.6% during the first quarter. Parallel Advisors LLC now owns 753 shares of the company’s stock worth $274,000 after purchasing an additional 90 shares during the last quarter. Cozad Asset Management Inc. lifted its position in shares of Snap-On by 3.6% during the first quarter. Cozad Asset Management Inc. now owns 7,675 shares of the company’s stock worth $2,788,000 after purchasing an additional 264 shares during the last quarter. Axiom Investment Management LLC bought a new position in shares of Snap-On during the first quarter worth about $118,000. Finally, Western Wealth Management LLC bought a new position in shares of Snap-On during the first quarter worth about $29,000. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Roth Mkm restated a “buy” rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Robert W. Baird raised their target price on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Tigress Financial raised their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Barclays assumed coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Five research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $387.67.

About Snap-On

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.