Snap-On Inc. (SNA) Trading Down 2.2%
Snap-On Inc. (NYSE:SNA)’s share price fell 2.2% on Friday . The stock traded as low as $153.28 and last traded at $153.31, with a volume of 272,762 shares traded. The stock had previously closed at $156.80.
Several research firms have recently weighed in on SNA. Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Robert W. Baird reissued a “buy” rating on shares of Snap-On in a research note on Tuesday, June 28th. Finally, CL King began coverage on shares of Snap-On in a research note on Monday, June 27th. They issued a “buy” rating and a $174.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $176.56.
The company has a 50-day moving average price of $157.05 and a 200 day moving average price of $155.93. The stock has a market cap of $8.92 billion and a P/E ratio of 17.60.
Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 21st. The company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.13. The company earned $872.30 million during the quarter, compared to the consensus estimate of $876.70 million. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 earnings per share. On average, analysts predict that Snap-On Inc. will post $9.10 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 19th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Wednesday, August 17th.
In related news, VP Iain Boyd sold 3,500 shares of Snap-On stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $157.97, for a total transaction of $552,895.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeanne M. Moreno sold 10,417 shares of Snap-On stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $164.71, for a total transaction of $1,715,784.07. Following the sale, the vice president now owns 13,944 shares in the company, valued at $2,296,716.24. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Aberdeen Asset Management PLC UK boosted its stake in shares of Snap-On by 11.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 17,354 shares of the company’s stock worth $2,848,000 after buying an additional 1,824 shares in the last quarter. Eaton Vance Management boosted its stake in shares of Snap-On by 35.9% in the fourth quarter. Eaton Vance Management now owns 29,132 shares of the company’s stock worth $4,994,000 after buying an additional 7,698 shares in the last quarter. Redwood Investments LLC boosted its stake in shares of Snap-On by 12.4% in the fourth quarter. Redwood Investments LLC now owns 98,050 shares of the company’s stock worth $16,809,000 after buying an additional 10,804 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in shares of Snap-On by 6.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 7,744 shares of the company’s stock worth $1,328,000 after buying an additional 471 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Snap-On by 12.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 440,202 shares of the company’s stock worth $75,464,000 after buying an additional 48,101 shares in the last quarter.
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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