Jesus Arregui Sells 3,831 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) SVP Jesus Arregui sold 3,831 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the transaction, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $891,093.76. This trade represents a 59.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Snap-On Stock Up 2.3%

Shares of NYSE:SNA traded up $7.54 during trading on Tuesday, hitting $340.56. 266,257 shares of the company were exchanged, compared to its average volume of 361,318. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $338.83 and a two-hundred day moving average price of $328.01.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $4.70 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is currently 51.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Roth Capital reaffirmed a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Robert W. Baird boosted their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Finally, Tigress Financial lifted their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.00.

Institutional Trading of Snap-On

A number of institutional investors and hedge funds have recently made changes to their positions in SNA. Vanguard Group Inc. increased its stake in shares of Snap-On by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after purchasing an additional 80,422 shares during the last quarter. State Street Corp boosted its stake in Snap-On by 1.6% in the third quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after buying an additional 36,130 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after acquiring an additional 36,421 shares during the last quarter. First Trust Advisors LP raised its stake in Snap-On by 1.3% during the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock worth $664,149,000 after acquiring an additional 23,863 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Snap-On during the second quarter worth about $434,938,000. 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.