Snap-On Inc. (SNA) Shares Gap Up to $157.25
Snap-On Inc. (NYSE:SNA) shares 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.
Several research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Snap-On from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Robert W. Baird reissued a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. Finally, CL King assumed coverage on shares of Snap-On in a report on Monday, June 27th. They set a “buy” rating and a $174.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $176.56.
The company has a market cap of $9.31 billion and a P/E ratio of 19.09. The firm has a 50-day moving average of $157.34 and a 200 day moving average of $156.90.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 21st. The company reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.07. The company had revenue of $834.20 million for the quarter, compared to analyst estimates of $854.10 million. Snap-On’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.87 earnings per share. Equities research analysts anticipate that Snap-On Inc. will post $9.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 20th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Wednesday, May 18th.
In other Snap-On news, SVP Anup R. Banerjee sold 6,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $967,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeanne M. Moreno sold 10,417 shares of the business’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 13,944 shares in the company, valued at approximately $2,296,716.24. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Snap-On by 379.5% in the fourth quarter. Teacher Retirement System of Texas now owns 39,762 shares of the company’s stock valued at $6,816,000 after buying an additional 31,470 shares during the period. Vanguard Group Inc. raised its stake in shares of Snap-On by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 4,850,322 shares of the company’s stock valued at $831,491,000 after buying an additional 135,197 shares during the period. World Asset Management Inc raised its stake 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. Swiss National Bank raised its stake 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. Finally, ProShare Advisors LLC raised its stake in shares of Snap-On by 8.7% in the fourth quarter. ProShare Advisors LLC now owns 8,524 shares of the company’s stock valued at $1,461,000 after buying an additional 682 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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