Richard Thomas Miller Sells 1,750 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snap-on Stock Down 0.0 %

NYSE SNA traded down $0.10 during midday trading on Monday, hitting $325.99. 504,369 shares of the company traded hands, compared to its average volume of 303,088. The company has a market cap of $17.17 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.05. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $330.51. The company’s 50-day simple moving average is $284.18 and its 200-day simple moving average is $276.57.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $4.89 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on announced that its Board of Directors has approved a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.28%. Snap-on’s dividend payout ratio (DPR) is 38.29%.

Wall Street Analyst Weigh In

SNA has been the subject of a number of recent analyst reports. Barrington Research boosted their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday. Tigress Financial restated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday. Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Finally, Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $327.40.

Institutional Trading of Snap-on

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNA. Opal Wealth Advisors LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at about $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares during the period. Quarry LP raised its holdings in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Snap-on by 529.0% in the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.