Snap-On Inc. (SNA) Shares Gap Up to $157.25
Snap-On Inc. (NYSE:SNA)’s share price gapped up before the market opened on Friday . The stock had previously closed at $156.50, but opened at $157.25. Snap-On shares last traded at $159.31, with a volume of 210,595 shares changing hands.
Several brokerages have weighed in on SNA. Zacks Investment Research downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. Finally, CL King began coverage on shares of Snap-On in a report on Monday, June 27th. They set a “buy” rating and a $174.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Snap-On currently has an average rating of “Buy” and a consensus target price of $176.56.
The company has a market cap of $9.31 billion and a PE ratio of 19.09. The stock’s 50 day moving average is $157.34 and its 200-day moving average is $156.90.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 21st. The company reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.07. During the same quarter last year, the company earned $1.87 EPS. The company had revenue of $834.20 million for the quarter, compared to analyst estimates of $854.10 million. The business’s revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that Snap-On Inc. will post $9.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 20th were issued a dividend of $0.61 per share. The ex-dividend date was Wednesday, May 18th. This represents a $2.44 annualized dividend and a dividend yield of 1.52%.
In related news, SVP Anup R. Banerjee sold 6,000 shares of the stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $161.22, for a total value of $967,320.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $967,320. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jeanne M. Moreno sold 10,417 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $164.71, for a total transaction of $1,715,784.07. Following the completion of the transaction, the vice president now owns 13,944 shares in the company, valued at approximately $2,296,716.24. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of SNA. Nationwide Fund Advisors increased its position in shares of Snap-On by 6.1% in the fourth quarter. Nationwide Fund Advisors now owns 52,783 shares of the company’s stock valued at $9,049,000 after buying an additional 3,016 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Snap-On by 3.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 27,348 shares of the company’s stock valued at $4,689,000 after buying an additional 905 shares during the period. Korea Investment CORP acquired a new position in shares of Snap-On during the fourth quarter valued at $1,011,000. World Asset Management Inc increased its position in shares of Snap-On by 2.5% in the fourth quarter. World Asset Management Inc now owns 6,346 shares of the company’s stock valued at $1,088,000 after buying an additional 157 shares during the period. Finally, Swiss National Bank increased its position in shares of Snap-On by 1.2% in the fourth quarter. Swiss National Bank now owns 105,300 shares of the company’s stock valued at $18,052,000 after buying an additional 1,200 shares during the period.
Snap-on Incorporated (Snap-on) is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, Government and military, mining, natural resources, power generation and technical education.
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