Richard Thomas Miller Sells 1,750 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the transaction, the vice president now directly owns 3,218 shares in the company, valued at $1,061,940. 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 Price Performance

NYSE SNA traded down $0.10 during trading hours on Monday, reaching $325.99. The company’s stock had a trading volume of 504,369 shares, compared to its average volume of 303,088. The firm’s 50-day moving average price is $284.18 and its 200-day moving average price is $276.57. The company has a quick ratio of 3.05, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $330.51. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.26 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm earned $4.89 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts predict that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

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

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is 38.29%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research reports. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus price target of $327.40.

Institutional Trading of Snap-on

A number of large investors have recently added to or reduced their stakes in SNA. Mawer Investment Management Ltd. increased its stake in Snap-on by 234.7% in the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after acquiring an additional 443,333 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after purchasing an additional 280,997 shares during the last quarter. Millennium Management LLC increased its position in shares of Snap-on by 1,786.4% during the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after purchasing an additional 152,631 shares during the last quarter. Glassman Wealth Services bought a new position in shares of Snap-on during the 2nd quarter valued at approximately $26,608,000. Finally, Earnest Partners LLC increased its position in shares of Snap-on by 9.9% during the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after purchasing an additional 83,686 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

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.