Snap-on Incorporated (NYSE:SNA) SVP Thomas J. Ward Sells 12,737 Shares

Snap-on Incorporated (NYSE:SNA) SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Snap-on Stock Performance

NYSE SNA opened at $330.18 on Friday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $337.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 2.16 and a beta of 0.98. The company has a fifty day moving average price of $292.75 and a 200-day moving average price of $278.68.

Snap-on announced that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.25%. Snap-on’s payout ratio is 38.29%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research upped their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Bank of America upped their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Tigress Financial upped their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $345.40.

Institutional Trading of Snap-on

Several institutional investors have recently made changes to their positions in the company. Summit Global Investments grew its stake in shares of Snap-on by 2.6% in the 3rd quarter. Summit Global Investments now owns 2,154 shares of the company’s stock worth $624,000 after acquiring an additional 54 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in Snap-on during the third quarter valued at about $296,000. Principal Financial Group Inc. grew its position in Snap-on by 5.8% during the third quarter. Principal Financial Group Inc. now owns 280,593 shares of the company’s stock valued at $81,289,000 after buying an additional 15,314 shares during the period. Foster & Motley Inc. grew its position in Snap-on by 7.3% during the third quarter. Foster & Motley Inc. now owns 20,786 shares of the company’s stock valued at $6,022,000 after buying an additional 1,421 shares during the period. Finally, Radnor Capital Management LLC bought a new position in Snap-on during the third quarter valued at about $478,000. Institutional investors 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.