Timothy Chambers Sells 9,111 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) SVP Timothy Chambers sold 9,111 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the sale, the senior vice president directly owned 21,223 shares of the company’s stock, valued at $8,900,077.28. This represents a 30.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Stock Performance

Shares of NYSE SNA traded up $12.80 during trading on Tuesday, hitting $420.22. The company had a trading volume of 391,981 shares, compared to its average volume of 373,651. Snap-On Incorporated has a 12 month low of $312.78 and a 12 month high of $420.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The firm has a market capitalization of $21.74 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73. The stock has a 50 day simple moving average of $390.45 and a 200 day simple moving average of $378.91.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.72 EPS. As a group, analysts anticipate that Snap-On Incorporated will post 19.67 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio is presently 49.77%.

Snap-On announced that its Board of Directors has initiated a share buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research note on Friday. Barclays started coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $418.20.

Hedge Funds Weigh In On Snap-On

A number of hedge funds and other institutional investors have recently modified their holdings of SNA. Wedge Capital Management L L P NC lifted its stake in Snap-On by 12.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 34,335 shares of the company’s stock worth $13,816,000 after purchasing an additional 3,794 shares in the last quarter. E. Ohman J or Asset Management AB grew its position in shares of Snap-On by 49.6% during the second quarter. E. Ohman J or Asset Management AB now owns 2,110 shares of the company’s stock valued at $849,000 after purchasing an additional 700 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Snap-On during the second quarter valued at about $264,000. Harrell Investment Partners LLC increased its holdings in shares of Snap-On by 12.0% in the second quarter. Harrell Investment Partners LLC now owns 2,636 shares of the company’s stock worth $1,061,000 after purchasing an additional 283 shares during the last quarter. Finally, Wynn Capital LLC bought a new stake in shares of Snap-On in the second quarter worth about $215,000. Institutional investors own 84.88% of the company’s stock.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.