Snap-On Inc. (SNA) Stock Price Down 2.2%
Snap-On Inc. (NYSE:SNA)’s share price traded down 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 changing hands. The stock had previously closed at $156.80.
A number of brokerages have issued reports on SNA. Robert W. Baird reissued a “buy” rating on shares of Snap-On in a research report on Tuesday, June 28th. CL King began coverage on shares of Snap-On in a research report on Monday, June 27th. They set a “buy” rating and a $174.00 target price for the company. Finally, Zacks Investment Research raised shares of Snap-On from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Snap-On presently has an average rating of “Buy” and a consensus target price of $176.56.
The stock has a market cap of $8.92 billion and a price-to-earnings ratio of 17.60. The stock has a 50 day moving average price of $156.99 and a 200 day moving average price of $155.93.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.23 by $0.13. During the same quarter in the prior year, the firm earned $2.03 EPS. The company had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $876.70 million. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Snap-On Inc. will post $9.10 earnings per share for the current 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 issued a $0.61 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $2.44 annualized dividend and a yield of 1.59%.
In other Snap-On news, VP Jeanne M. Moreno sold 10,417 shares of Snap-On stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $164.71, for a total value of $1,715,784.07. Following the completion of the transaction, the vice president now directly owns 13,944 shares of the company’s stock, valued at approximately $2,296,716.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $552,895.00. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Snap-On by 16.5% in the fourth quarter. Victory Capital Management Inc. now owns 6,457 shares of the company’s stock worth $1,107,000 after buying an additional 914 shares during the period. I.G. Investment Management LTD. increased its position in shares of Snap-On by 2.2% in the fourth quarter. I.G. Investment Management LTD. now owns 6,730 shares of the company’s stock worth $1,154,000 after buying an additional 142 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position 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 during the period. Aberdeen Asset Management PLC UK increased its position 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 during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Snap-On by 45.2% in the fourth quarter. Advisors Asset Management Inc. now owns 26,829 shares of the company’s stock worth $4,599,000 after buying an additional 8,353 shares during the period.
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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