Insider Selling: Snap-On (NYSE:SNA) VP Sells $811,840.00 in Stock

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the sale, the vice president owned 4,529 shares in the company, valued at approximately $1,838,411.68. This represents a 30.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Richard Thomas Miller also recently made the following trade(s):

• On Wednesday, June 10th, Richard Thomas Miller sold 427 shares of Snap-On stock. The shares were sold at an average price of $389.55, for a total value of $166,337.85.

Snap-On Stock Performance

NYSE:SNA opened at $412.09 on Friday. The business’s fifty day moving average is $380.65 and its 200 day moving average is $372.53. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. Snap-On Incorporated has a 52-week low of $310.23 and a 52-week high of $412.33.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $4.51 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.4%. Snap-On’s payout ratio is currently 50.39%.

Snap-On declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Snap-On

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

Analysts Set New Price Targets

Several analysts have issued reports on SNA shares. Robert W. Baird increased their target price on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Roth Mkm reaffirmed a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Finally, Barclays assumed coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $387.67.

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.