Jesus Arregui Sells 2,562 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the completion of the sale, the senior vice president now owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap-on Stock Performance

NYSE:SNA opened at $270.70 on Friday. The stock’s 50-day simple moving average is $284.28 and its 200 day simple moving average is $278.74. The firm has a market capitalization of $14.27 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. Snap-on’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $4.60 earnings per share. On average, analysts anticipate that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be given a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.75%. Snap-on’s dividend payout ratio is presently 39.03%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNA. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Robert W. Baird reduced their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Hedge Funds Weigh In On Snap-on

Large investors have recently bought and sold shares of the company. Royal London Asset Management Ltd. raised its position in Snap-on by 12.7% in the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock valued at $5,751,000 after purchasing an additional 2,542 shares during the last quarter. Caprock Group LLC bought a new position in Snap-on in the fourth quarter valued at about $1,203,000. Cerity Partners LLC raised its position in Snap-on by 275.7% in the fourth quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock valued at $2,292,000 after purchasing an additional 5,825 shares during the last quarter. Vision Capital Management Inc. bought a new position in Snap-on in the fourth quarter valued at about $2,377,000. Finally, Raymond James & Associates raised its position in Snap-on by 3.9% in the fourth quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock valued at $102,584,000 after purchasing an additional 13,225 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

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.