Snap-on Incorporated (NYSE:SNA) CFO Sells $2,401,706.58 in Stock

Snap-on Incorporated (NYSE:SNA) CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snap-on Price Performance

Shares of NYSE SNA opened at $337.67 on Friday. The stock’s 50-day simple moving average is $344.32 and its 200-day simple moving average is $298.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The firm has a market capitalization of $17.73 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. Snap-on’s dividend payout ratio is 44.06%.

Institutional Investors Weigh In On Snap-on

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Snap-on by 5.8% in the third quarter. Principal Financial Group Inc. now owns 280,593 shares of the company’s stock valued at $81,289,000 after buying an additional 15,314 shares during the last quarter. Franklin Resources Inc. increased its position in Snap-on by 15.9% in the 3rd quarter. Franklin Resources Inc. now owns 87,026 shares of the company’s stock valued at $25,812,000 after acquiring an additional 11,970 shares during the period. Synovus Financial Corp increased its position in Snap-on by 4.5% in the 3rd quarter. Synovus Financial Corp now owns 4,179 shares of the company’s stock valued at $1,210,000 after acquiring an additional 180 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Snap-on by 37.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,097 shares of the company’s stock valued at $1,477,000 after acquiring an additional 1,377 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in Snap-on during the 3rd quarter worth approximately $19,291,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and an average target price of $345.40.

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.