Nicholas T. Pinchuk Sells 22,700 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snap-on Stock Down 1.9 %

SNA opened at $329.09 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market capitalization of $17.25 billion, a PE ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99. The stock’s fifty day moving average is $340.12 and its 200-day moving average is $333.11. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the firm earned $4.75 EPS. On average, equities analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $346.40.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Snap-on during the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on during the fourth quarter valued at $28,000. CoreFirst Bank & Trust acquired a new position in shares of Snap-on in the 4th quarter valued at $40,000. Finally, Brooklyn Investment Group purchased a new position in Snap-on in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.