Snap-On (NYSE:SNA) VP Sells $595,641.60 in Stock

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 1,728 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $344.70, for a total transaction of $595,641.60. Following the transaction, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,433,262.60. This represents a 29.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Richard Thomas Miller also recently made the following trade(s):

• On Thursday, December 4th, Richard Thomas Miller sold 2,000 shares of Snap-On stock. The stock was sold at an average price of $348.27, for a total value of $696,540.00.

Snap-On Stock Performance

Shares of SNA stock traded up $1.77 during trading hours on Thursday, reaching $346.11. 347,871 shares of the company’s stock were exchanged, compared to its average volume of 358,446. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The company’s 50 day moving average is $339.36 and its two-hundred day moving average is $328.73. The company has a market cap of $18.00 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $365.78.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company posted $4.70 earnings per share. Snap-On’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a $2.44 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is 51.18%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Roth Capital restated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Robert W. Baird raised their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, Tigress Financial boosted their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Institutional Investors Weigh In On Snap-On

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in shares of Snap-On by 3.7% in the third quarter. Allworth Financial LP now owns 3,882 shares of the company’s stock worth $1,345,000 after acquiring an additional 139 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Snap-On by 12.3% during the third quarter. IFP Advisors Inc now owns 1,135 shares of the company’s stock valued at $430,000 after acquiring an additional 124 shares during the last quarter. Groupama Asset Managment purchased a new stake in Snap-On during the 3rd quarter worth about $728,000. CIBC Bancorp USA Inc. purchased a new stake in Snap-On during the 3rd quarter worth about $2,496,000. Finally, Danske Bank A S acquired a new position in Snap-On in the 3rd quarter valued at about $11,259,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

About Snap-On

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.