Snap-On Inc. (NYSE:SNA) SVP Thomas L. Kassouf sold 20,000 shares of Snap-On stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $168.09, for a total value of $3,361,800.00. Following the completion of the transaction, the senior vice president now directly owns 45,542 shares of the company’s stock, valued at $7,655,154.78. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of Snap-On Inc. (NYSE:SNA) traded up 0.02% during mid-day trading on Wednesday, reaching $170.82. The company had a trading volume of 22,573 shares. Snap-On Inc. has a 12-month low of $133.09 and a 12-month high of $174.52. The firm has a 50-day moving average of $156.59 and a 200-day moving average of $156.14. The company has a market capitalization of $9.91 billion, a P/E ratio of 19.06 and a beta of 1.08.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 20th. The company reported $2.22 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.07. The business had revenue of $834.10 million for the quarter, compared to analysts’ expectations of $709.70 million. Snap-On had a return on equity of 20.73% and a net margin of 15.67%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 earnings per share. On average, equities analysts anticipate that Snap-On Inc. will post $9.14 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Snap-On (NYSE:SNA)

The company also recently announced 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. This represents a $2.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, November 16th. This is a boost from Snap-On’s previous quarterly dividend of $0.61. Snap-On’s dividend payout ratio is currently 31.70%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. Vanguard Group Inc. raised its stake in Snap-On by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,075,199 shares of the company’s stock valued at $800,968,000 after buying an additional 101,971 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Snap-On by 39.1% in the third quarter. JPMorgan Chase & Co. now owns 4,149,833 shares of the company’s stock valued at $630,609,000 after buying an additional 1,166,037 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Snap-On by 4.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,879,662 shares of the company’s stock valued at $285,633,000 after buying an additional 75,446 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Snap-On by 27.8% in the third quarter. Bank of New York Mellon Corp now owns 1,406,821 shares of the company’s stock valued at $213,780,000 after buying an additional 306,429 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in Snap-On by 3.0% in the third quarter. BlackRock Fund Advisors now owns 946,099 shares of the company’s stock valued at $143,769,000 after buying an additional 27,253 shares during the last quarter. 87.42% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Snap-On from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Tuesday, November 15th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $178.27.

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About Snap-On

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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