Insider Selling: Snap-On (NYSE:SNA) SVP Sells $163,158.27 in Stock

Snap-On Incorporated (NYSE:SNA) SVP Timothy Chambers sold 389 shares of Snap-On stock in a transaction on Friday, July 17th. The stock was sold at an average price of $419.43, for a total transaction of $163,158.27. Following the sale, the senior vice president directly owned 21,223 shares in the company, valued at approximately $8,901,562.89. This trade represents a 1.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Price Performance

Shares of NYSE SNA opened at $409.66 on Friday. The firm has a 50-day simple moving average of $393.64 and a 200-day simple moving average of $380.10. The stock has a market capitalization of $21.19 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $420.91.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.95 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $4.72 earnings per share. On average, equities analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On declared that its board has authorized a share buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Roth Capital restated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Finally, Robert W. Baird set a $415.00 price target on Snap-On in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $418.20.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SNA. Miller Howard Investments Inc. NY purchased a new stake in Snap-On in the first quarter valued at $51,244,000. First Horizon Corp purchased a new position in shares of Snap-On during the 4th quarter worth $4,068,000. QRG Capital Management Inc. grew its holdings in shares of Snap-On by 9.9% during the 1st quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock worth $31,545,000 after purchasing an additional 7,798 shares during the period. Fisher Asset Management LLC increased its position in shares of Snap-On by 21.8% during the 4th quarter. Fisher Asset Management LLC now owns 66,017 shares of the company’s stock worth $22,750,000 after purchasing an additional 11,808 shares during the last quarter. Finally, Novem Group acquired a new position in Snap-On in the fourth quarter valued at about $980,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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.