Snap-on Incorporated (NYSE:SNA) CFO Sells $1,246,804.02 in Stock

Snap-on Incorporated (NYSE:SNA) CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Snap-on Stock Down 0.4 %

SNA stock traded down $1.25 during midday trading on Thursday, reaching $277.67. 185,946 shares of the company were exchanged, compared to its average volume of 293,054. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The stock’s 50-day simple moving average is $269.73 and its 200 day simple moving average is $275.73.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. Snap-on’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.89 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.86 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.68%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Snap-on declared that its board has approved a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of Snap-on in the 4th quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new position in Snap-on during the 2nd quarter worth $30,000. Innealta Capital LLC acquired a new position in Snap-on in the second quarter valued at $32,000. Quarry LP raised its holdings in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares during the last quarter. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Snap-on during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Barrington Research restated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Robert W. Baird dropped their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $315.00.

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.