Snap-on (NYSE:SNA) Shares Gap Down to $283.50

Snap-on Incorporated (NYSE:SNA) shares gapped down before the market opened on Thursday . The stock had previously closed at $283.50, but opened at $273.67. Snap-on shares last traded at $265.74, with a volume of 122,384 shares traded.

Analyst Ratings Changes

SNA has been the subject of several research reports. Roth Mkm reissued a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Finally, Barrington Research reissued an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on has a consensus rating of “Hold” and a consensus target price of $306.00.

Snap-on Trading Down 5.4 %

The company has a fifty day simple moving average of $283.74 and a two-hundred day simple moving average of $278.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. The company has a market capitalization of $14.17 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 8th. The company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $4.42 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Snap-on Incorporated will post 19.22 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. Snap-on’s payout ratio is presently 39.68%.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,368 shares of company stock worth $13,399,449. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Snap-on

Institutional investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. grew its position in shares of Snap-on by 12.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after buying an additional 2,542 shares during the period. Caprock Group LLC acquired a new position in shares of Snap-on during the 4th quarter worth about $1,203,000. Vision Capital Management Inc. acquired a new position in shares of Snap-on during the 4th quarter worth about $2,377,000. Raymond James & Associates grew its position in shares of Snap-on by 3.9% during the 4th quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock worth $102,584,000 after buying an additional 13,225 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Snap-on in the 4th quarter valued at approximately $1,736,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.