Snap-On (NYSE:SNA) SVP Sells $3,820,788.96 in Stock

Snap-On Incorporated (NYSE:SNA) SVP Timothy Chambers sold 9,111 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the sale, the senior vice president directly owned 21,223 shares in the company, valued at approximately $8,900,077.28. The trade was a 30.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Stock Performance

Shares of SNA stock opened at $409.66 on Friday. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $420.91. The stock has a market capitalization of $21.19 billion, a PE ratio of 20.89, a P/E/G ratio of 2.92 and a beta of 0.73. The firm has a 50 day moving average of $393.64 and a two-hundred day moving average of $380.10.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.72 earnings per share. On average, research analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On declared that its board has initiated a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

SNA has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Robert W. Baird set a $415.00 price objective on Snap-On in a research report on Friday, July 24th. Roth Capital restated a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $418.20.

Institutional Trading of Snap-On

A number of hedge funds and other institutional investors have recently bought and sold shares of SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On in the 4th quarter valued at about $25,000. DV Equities LLC purchased a new stake in Snap-On during the fourth quarter worth approximately $25,000. Western Wealth Management LLC purchased a new stake in Snap-On during the first quarter worth approximately $29,000. Montag A & Associates Inc. boosted its holdings in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new position in Snap-On in the fourth quarter valued at approximately $35,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Company Profile

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.