Insider Selling: Snap-on Incorporated (NYSE:SNA) SVP Sells 2,562 Shares of Stock

Snap-on Incorporated (NYSE:SNA) SVP Jesus Arregui sold 2,562 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the transaction, the senior vice president now directly owns 8,663 shares in the company, valued at $2,333,379.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Snap-on Trading Up 0.2 %

NYSE:SNA traded up $0.54 during trading hours on Friday, hitting $270.70. The company had a trading volume of 237,139 shares, compared to its average volume of 313,779. Snap-on Incorporated has a 1 year low of $247.68 and a 1 year high of $298.49. The company has a market cap of $14.27 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.89 and a beta of 0.99. The company has a 50-day moving average of $284.21 and a 200 day moving average of $278.66. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings results 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. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company posted $4.60 EPS. The company’s revenue was down .1% compared to the same quarter last year. Sell-side analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.75%. Snap-on’s dividend payout ratio is currently 39.03%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Snap-on

Institutional investors have recently made changes to their positions in the company. Royal London Asset Management Ltd. increased its stake in Snap-on by 12.7% during the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after acquiring an additional 2,542 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Snap-on during the 4th quarter worth $1,203,000. Cerity Partners LLC increased its position in shares of Snap-on by 275.7% during the 4th quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock worth $2,292,000 after purchasing an additional 5,825 shares during the last quarter. Vision Capital Management Inc. purchased a new stake in Snap-on in the 4th quarter valued at about $2,377,000. Finally, Raymond James & Associates lifted 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 buying an additional 13,225 shares during the last quarter. Hedge funds and other institutional investors own 84.88% 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.