Snap-on Incorporated (NYSE:SNA) VP Sells $577,500.00 in Stock

Snap-on Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Snap-on Trading Up 0.6 %

NYSE:SNA opened at $325.25 on Thursday. The company has a market cap of $17.15 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $287.40 and a two-hundred day simple moving average of $277.35. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $330.51.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.29%. Snap-on’s dividend payout ratio is currently 39.03%.

Snap-on declared that its board has initiated a share repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barrington Research lifted their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Bank of America boosted their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Snap-on has a consensus rating of “Hold” and an average price target of $335.60.

Hedge Funds Weigh In On Snap-on

A number of institutional investors and hedge funds have recently made changes to their positions in SNA. Opal Wealth Advisors LLC purchased a new position in shares of Snap-on during the 2nd quarter worth $30,000. Innealta Capital LLC purchased a new position in Snap-on during the second quarter valued at $32,000. Massmutual Trust Co. FSB ADV grew its holdings in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the period. Quarry LP increased its position in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the period. 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.