Snap-on Incorporated (NYSE:SNA) SVP Thomas L. Kassouf sold 96,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $160.40, for a total transaction of $15,398,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Snap-on Incorporated (NYSE:SNA) traded up $0.27 during trading hours on Wednesday, reaching $152.21. 676,508 shares of the company’s stock were exchanged, compared to its average volume of 737,374. Snap-on Incorporated has a 12-month low of $140.83 and a 12-month high of $185.47. The company has a current ratio of 1.78, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25. The company has a market cap of $8,620.00, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.28 and a beta of 1.12.
Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 8th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.03. The company had revenue of $974.60 million for the quarter, compared to analyst estimates of $940.50 million. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 EPS. analysts expect that Snap-on Incorporated will post 11.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 1st. Snap-on’s dividend payout ratio (DPR) is presently 34.02%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Snap-on by 8.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock valued at $488,847,000 after purchasing an additional 270,905 shares during the last quarter. Schroder Investment Management Group boosted its stake in Snap-on by 13.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,284,391 shares of the company’s stock worth $189,306,000 after acquiring an additional 148,037 shares during the last quarter. Bessemer Group Inc. boosted its stake in Snap-on by 7.9% during the 4th quarter. Bessemer Group Inc. now owns 933,862 shares of the company’s stock worth $162,774,000 after acquiring an additional 68,432 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Snap-on by 30.7% during the 3rd quarter. Principal Financial Group Inc. now owns 849,256 shares of the company’s stock worth $126,547,000 after acquiring an additional 199,647 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Snap-on by 14.1% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 792,225 shares of the company’s stock worth $138,086,000 after acquiring an additional 97,613 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. B. Riley set a $205.00 target price on shares of Snap-on and gave the stock a “buy” rating in a research report on Monday. Barrington Research reiterated a “buy” rating on shares of Snap-on in a research report on Thursday, March 8th. Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research report on Wednesday, February 14th. Finally, Robert W. Baird dropped their target price on shares of Snap-on from $220.00 to $211.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $192.00.
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Snap-on Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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