Snap-on (NYSE:SNA) Releases Earnings Results, Beats Estimates By $0.09 EPS

Snap-on (NYSE:SNA) issued its quarterly earnings results on Thursday. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09, Briefing.com reports. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. Snap-on’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.60 earnings per share.

Snap-on Price Performance

Shares of NYSE SNA opened at $261.76 on Friday. Snap-on has a twelve month low of $239.08 and a twelve month high of $298.49. The firm has a fifty day simple moving average of $283.65 and a 200 day simple moving average of $278.16. The company has a market capitalization of $13.83 billion, a PE ratio of 13.96, a P/E/G ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock valued at $13,399,449 over the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Snap-on by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock valued at $1,308,079,000 after purchasing an additional 44,555 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Snap-on by 0.7% during the first quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock worth $309,984,000 after acquiring an additional 8,649 shares in the last quarter. Ariel Investments LLC increased its position in shares of Snap-on by 1.8% during the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock worth $232,038,000 after acquiring an additional 20,485 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Snap-on by 6.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,006,724 shares of the company’s stock worth $206,862,000 after acquiring an additional 62,813 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Snap-on by 3.6% during the first quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock worth $180,298,000 after acquiring an additional 30,664 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Tigress Financial reiterated a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Monday. Robert W. Baird cut their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus price target of $301.40.

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.