Nicholas Pinchuk Sells 22,607 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) CEO Nicholas Pinchuk sold 22,607 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at $280,261,350.60. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Snap-On Price Performance

Shares of NYSE:SNA opened at $344.34 on Thursday. The company has a market capitalization of $17.91 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.55 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $366.83. The firm’s 50 day simple moving average is $339.36 and its two-hundred day simple moving average is $328.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $4.70 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. This is a boost from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s payout ratio is 51.18%.

Institutional Trading of Snap-On

Several hedge funds have recently modified their holdings of SNA. Tobam purchased a new position in shares of Snap-On in the second quarter valued at $29,000. Ameritas Advisory Services LLC purchased a new position in shares of Snap-On in the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Snap-On in the 1st quarter worth about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after buying an additional 38 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Tigress Financial upped their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Roth Capital restated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Robert W. Baird lifted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Finally, Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $365.00.

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.