Snap-On (NYSE:SNA) Stock: Insider Nicholas Pinchuk Sells 23,447 Shares

Snap-On Incorporated (NYSE:SNA) CEO Nicholas Pinchuk sold 23,447 shares of Snap-On stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $373.47, for a total value of $8,756,751.09. Following the completion of the transaction, the chief executive officer owned 878,082 shares of the company’s stock, valued at approximately $327,937,284.54. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Stock Down 1.7%

SNA traded down $6.42 on Thursday, hitting $368.33. 219,288 shares of the company were exchanged, compared to its average volume of 361,536. The firm has a 50-day moving average price of $368.00 and a two-hundred day moving average price of $380.30. The company has a current ratio of 3.55, a quick ratio of 2.71 and a debt-to-equity ratio of 0.14. Snap-On Incorporated has a twelve month low of $320.80 and a twelve month high of $423.02. The company has a market cap of $19.00 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.66 and a beta of 0.75.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 20.82% and a return on equity of 16.77%. Snap-On’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $4.71 EPS. On average, equities analysts predict that Snap-On Incorporated will post 19.24 earnings per share for the current year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be issued a dividend of $2.75 per share. This is a boost from Snap-On’s previous quarterly dividend of $2.44. The ex-dividend date is Friday, November 20th. This represents a $11.00 annualized dividend and a yield of 3.0%. Snap-On’s dividend payout ratio (DPR) is presently 57.20%.

Hedge Funds Weigh In On Snap-On

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNA. BlackRock Inc. purchased a new position in Snap-On in the second quarter valued at approximately $1,715,363,000. State Street Corp lifted its position in shares of Snap-On by 2.9% during the 2nd quarter. State Street Corp now owns 2,356,671 shares of the company’s stock worth $948,324,000 after buying an additional 66,754 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Snap-On by 2.0% during the 3rd quarter. First Trust Advisors LP now owns 2,112,261 shares of the company’s stock worth $767,490,000 after buying an additional 42,017 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Snap-On by 0.4% in the 1st quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock valued at $363,037,000 after buying an additional 3,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Snap-On by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock valued at $319,955,000 after buying an additional 17,337 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNA. Roth Capital reissued a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Tigress Financial lifted their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $385.00 target price on shares of Snap-On in a research note on Friday, October 23rd. Weiss Ratings lowered Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Finally, Barclays cut their price target on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $434.00.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.