Snap-on Incorporated (NYSE:SNA) VP Iain Boyd Sells 6,044 Shares

Snap-on Incorporated (NYSE:SNA) VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snap-on Price Performance

Shares of NYSE SNA opened at $295.68 on Wednesday. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $302.64. The stock’s 50 day moving average price is $281.00 and its 200-day moving average price is $276.06. The company has a market capitalization of $15.59 billion, a PE ratio of 15.51, a PEG ratio of 1.99 and a beta of 0.98. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $4.89 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.52%. Snap-on’s payout ratio is 39.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird cut their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Friday, September 20th. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th.

Institutional Investors Weigh In On Snap-on

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renasant Bank raised its holdings in Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after acquiring an additional 36 shares during the period. TFB Advisors LLC raised its holdings in Snap-on by 3.2% during the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after acquiring an additional 38 shares during the period. Financial Advocates Investment Management raised its holdings in Snap-on by 1.2% during the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after acquiring an additional 39 shares during the period. Ritholtz Wealth Management raised its holdings in Snap-on by 4.0% during the 2nd quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after acquiring an additional 39 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its holdings in shares of Snap-on by 2.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock worth $502,000 after purchasing an additional 39 shares during the period. Institutional investors own 84.88% of the company’s stock.

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.