Insider Selling: Snap-On (NYSE:SNA) CFO Sells $2,235,906.75 in Stock

Snap-On Incorporated (NYSE:SNA) CFO Aldo John Pagliari sold 5,531 shares of Snap-On stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the sale, the chief financial officer directly owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aldo John Pagliari also recently made the following trade(s):

• On Thursday, June 4th, Aldo John Pagliari sold 1,330 shares of Snap-On stock. The stock was sold at an average price of $379.27, for a total value of $504,429.10.

Snap-On Price Performance

Shares of SNA traded down $3.87 during trading hours on Thursday, hitting $404.57. The stock had a trading volume of 203,763 shares, compared to its average volume of 371,059. The stock has a market capitalization of $20.93 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 2.90 and a beta of 0.73. The company’s fifty day moving average is $401.18 and its two-hundred day moving average is $383.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a 52 week low of $319.20 and a 52 week high of $423.02.

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

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

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SNA shares. Barclays started coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Tigress Financial boosted their target price on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Robert W. Baird set a $415.00 price target on Snap-On in a report on Friday, July 24th. Finally, Roth Capital reaffirmed a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and an average price target of $426.20.

Snap-On Company Profile

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.