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

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the transaction, the vice president directly owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 10th, Richard Thomas Miller sold 427 shares of Snap-On stock. The shares were sold at an average price of $389.55, for a total transaction of $166,337.85.

Snap-On Trading Up 2.2%

Snap-On stock opened at $412.09 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $412.33. The stock has a market cap of $21.35 billion, a P/E ratio of 21.27, a PEG ratio of 2.84 and a beta of 0.73. The firm’s fifty day moving average price is $380.07 and its 200-day moving average price is $372.25.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $4.51 EPS. Snap-On’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its Board of Directors has approved a stock buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNA. Robert W. Baird lifted their target price on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Barclays assumed coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Finally, Roth Mkm restated a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Hedge Funds Weigh In On Snap-On

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Snap-On by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after buying an additional 1,185 shares during the period. Woodline Partners LP boosted its holdings in Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after acquiring an additional 1,273 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after acquiring an additional 233 shares during the period. Gamco Investors INC. ET AL grew its position in Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after acquiring an additional 434 shares during the last quarter. Finally, Natixis grew its position in Snap-On by 136.8% during the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after acquiring an additional 1,761 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.