Insider Selling: Snap-On (NYSE:SNA) SVP Sells $1,632,043.92 in Stock

Snap-On Incorporated (NYSE:SNA) SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the transaction, the senior vice president directly owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Snap-On Stock Performance

SNA stock opened at $387.01 on Friday. The stock has a market capitalization of $20.05 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.73 and a beta of 0.73. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $374.84 and its 200 day simple moving average is $367.11.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $4.51 earnings per share. As a group, research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio is 50.39%.

Snap-On declared that its board has initiated a stock repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Tigress Financial increased their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Barclays assumed 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 reissued a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Robert W. Baird increased their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Roth Mkm reissued a “buy” rating and set a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Hedge Funds Weigh In On Snap-On

Several hedge funds and other institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Snap-On in the 4th quarter worth $25,000. DV Equities LLC purchased a new stake in shares of Snap-On in the 4th quarter worth $25,000. Western Wealth Management LLC purchased a new stake in shares of Snap-On in the 1st quarter worth $29,000. GoalVest Advisory LLC purchased a new stake in shares of Snap-On in the 4th quarter worth $28,000. Finally, Montag A & Associates Inc. increased its stake in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

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.