Iain Boyd Sells 6,044 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now directly owns 10,493 shares in the company, valued at $3,137,302.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snap-on Trading Down 0.3 %

SNA traded down $0.92 on Tuesday, reaching $295.68. 693,007 shares of the company traded hands, compared to its average volume of 292,119. Snap-on Incorporated has a one year low of $249.84 and a one year high of $302.64. The firm has a fifty day simple moving average of $281.00 and a two-hundred day simple moving average of $276.06. The company has a market cap of $15.58 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $4.89 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 38.67%.

Snap-on announced that its board has approved a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Snap-on

Several large investors have recently made changes to their positions in the business. Scarborough Advisors LLC acquired a new position in shares of Snap-on in the 4th quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at $32,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the period. Finally, Quarry LP lifted its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on SNA shares. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird decreased their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Friday, September 20th.

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.