Snap-On (NYSE:SNA) CEO Nicholas Pinchuk Sells 23,229 Shares of Stock

Snap-On Incorporated (NYSE:SNA) CEO Nicholas Pinchuk sold 23,229 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the sale, the chief executive officer owned 846,562 shares of the company’s stock, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Snap-On Stock Down 0.2%

SNA stock opened at $385.04 on Tuesday. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $364.64 and a 200-day simple moving average of $346.29. The company has a market capitalization of $19.99 billion, a P/E ratio of 20.06, a PEG ratio of 2.66 and a beta of 0.81. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.82 earnings per share. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $2.44 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

Analysts Set New Price Targets

SNA has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Roth Mkm reissued a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Finally, Robert W. Baird set a $375.00 price objective on shares of Snap-On in a report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $370.67.

Institutional Investors Weigh In On Snap-On

A number of hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Snap-On in the 4th quarter worth about $25,000. DV Equities LLC bought a new position in Snap-On in the 4th quarter worth about $25,000. GoalVest Advisory LLC bought a new position in Snap-On in the 4th quarter worth about $28,000. Tobam acquired a new stake in shares of Snap-On in the second quarter valued at approximately $29,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in shares of Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.