Snap-on (NYSE:SNA) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Snap-on (NYSE:SNA) issued its earnings results on Thursday. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04, RTT News reports. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. During the same period in the previous year, the company posted $4.75 earnings per share.

Snap-on Stock Performance

Shares of SNA stock traded down $23.30 during midday trading on Thursday, hitting $332.80. The company had a trading volume of 291,837 shares, compared to its average volume of 384,876. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.89. 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 company’s 50 day simple moving average is $349.05 and its 200 day simple moving average is $318.38. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America boosted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. 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. Finally, Barrington Research restated an “outperform” rating and set a $360.00 price target on shares of Snap-on in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and an average price target of $347.40.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,192 shares of company stock worth $11,400,978 in the last three months. Insiders own 4.10% of the company’s stock.

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.