Snap-on Incorporated (NYSE:SNA) VP Sells $1,270,010.00 in Stock

Snap-on Incorporated (NYSE:SNA) VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Snap-on Stock Down 1.0 %

Shares of NYSE:SNA opened at $357.69 on Friday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.78 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.98. The company has a fifty day simple moving average of $334.08 and a 200 day simple moving average of $294.16.

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

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s payout ratio is 44.06%.

Hedge Funds Weigh In On Snap-on

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Snap-on by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 519 shares of the company’s stock worth $136,000 after buying an additional 104 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Snap-on in the second quarter valued at approximately $4,571,000. Cardinal Capital Management raised its position in shares of Snap-on by 2.3% during the 2nd quarter. Cardinal Capital Management now owns 10,527 shares of the company’s stock worth $2,752,000 after purchasing an additional 240 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter worth approximately $30,000. Finally, SG Americas Securities LLC grew its stake in Snap-on by 32.7% during the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after buying an additional 3,238 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Snap-on Company Profile

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.