Insider Selling: Snap-on Incorporated (NYSE:SNA) CEO Sells 22,700 Shares of Stock

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

Snap-on Price Performance

NYSE:SNA traded down $2.05 during mid-day trading on Thursday, reaching $335.40. 308,275 shares of the company were exchanged, compared to its average volume of 324,923. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.58 billion, a PE ratio of 17.20, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a fifty day moving average of $340.71 and a 200 day moving average of $332.73.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates 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 company posted $4.75 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Institutional Investors Weigh In On Snap-on

Several institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Snap-on in the 4th quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on in the 4th quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in Snap-on during the 3rd quarter worth approximately $39,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Snap-on during the 4th quarter worth approximately $40,000. 84.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Snap-on has an average rating of “Hold” and a consensus target price of $346.40.

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.