Snap-On Inc. (SNA) Chairman Nicholas T. Pinchuk Sells 20,544 Shares
Snap-On Inc. (NYSE:SNA) Chairman Nicholas T. Pinchuk sold 20,544 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $170.10, for a total transaction of $3,494,534.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Snap-On Inc. (NYSE:SNA) opened at 172.01 on Wednesday. Snap-On Inc. has a one year low of $133.09 and a one year high of $174.52. The firm’s 50-day moving average price is $156.59 and its 200 day moving average price is $156.14. The company has a market capitalization of $9.98 billion, a PE ratio of 19.20 and a beta of 1.08.
Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 20th. The company reported $2.22 EPS for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.07. Snap-On had a return on equity of 20.73% and a net margin of 15.67%. The company had revenue of $834.10 million for the quarter, compared to analysts’ expectations of $709.70 million. During the same quarter last year, the business earned $1.98 earnings per share. Snap-On’s revenue was up 1.5% on a year-over-year basis. Analysts anticipate that Snap-On Inc. will post $9.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 18th will be paid a $0.71 dividend. The ex-dividend date is Wednesday, November 16th. This is a positive change from Snap-On’s previous quarterly dividend of $0.61. This represents a $2.84 annualized dividend and a yield of 1.66%. Snap-On’s dividend payout ratio (DPR) is 31.70%.
Hedge funds have recently added to or reduced their stakes in the stock. Canandaigua National Bank & Trust Co. raised its stake in shares of Snap-On by 0.7% in the second quarter. Canandaigua National Bank & Trust Co. now owns 77,096 shares of the company’s stock worth $12,167,000 after buying an additional 500 shares during the last quarter. Bristol Gate Capital Partners Inc. purchased a new stake in shares of Snap-On during the second quarter worth approximately $26,506,000. Hermes Investment Management Ltd. raised its stake in shares of Snap-On by 94.3% in the second quarter. Hermes Investment Management Ltd. now owns 211,997 shares of the company’s stock worth $33,457,000 after buying an additional 102,900 shares during the last quarter. Origin Asset Management LLP raised its stake in shares of Snap-On by 11.4% in the first quarter. Origin Asset Management LLP now owns 224,687 shares of the company’s stock worth $35,274,000 after buying an additional 22,983 shares during the last quarter. Finally, Channing Capital Management LLC raised its stake in shares of Snap-On by 3.6% in the second quarter. Channing Capital Management LLC now owns 159,626 shares of the company’s stock worth $25,192,000 after buying an additional 5,480 shares during the last quarter. 87.42% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $178.27.
Snap-On Company Profile
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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