Snap-On (NYSE:SNA) VP Richard Thomas Miller Sells 2,000 Shares

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the sale, the vice president owned 4,158 shares in the company, valued at $1,448,106.66. This trade represents a 32.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Richard Thomas Miller also recently made the following trade(s):

• On Wednesday, December 3rd, Richard Thomas Miller sold 1,728 shares of Snap-On stock. The stock was sold at an average price of $344.70, for a total value of $595,641.60.

Snap-On Trading Up 0.5%

SNA stock traded up $1.77 during trading on Thursday, hitting $346.11. The company had a trading volume of 347,871 shares, compared to its average volume of 358,446. The stock has a market cap of $18.00 billion, a PE ratio of 18.15, a PEG ratio of 2.55 and a beta of 0.78. The business has a 50-day moving average of $339.36 and a 200-day moving average of $328.73. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a one year low of $289.81 and a one year high of $365.78.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $4.70 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.8%. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s payout ratio is 51.18%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Tigress Financial upped their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Robert W. Baird boosted their target price on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Roth Capital reiterated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Advisors Capital Management LLC boosted its position in shares of Snap-On by 5.3% during the 1st quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after acquiring an additional 63 shares during the last quarter. Jump Financial LLC increased its position in shares of Snap-On by 367.7% in the first quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock worth $1,861,000 after purchasing an additional 4,342 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Snap-On in the first quarter valued at approximately $1,986,000. Ascent Group LLC bought a new stake in Snap-On during the first quarter valued at approximately $421,000. Finally, Caxton Associates LLP purchased a new position in Snap-On in the 1st quarter worth approximately $946,000. 84.88% of the stock is owned by institutional investors.

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.