Nicholas T. Pinchuk Sells 23,172 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA - Get Free Report) CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-on stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer now directly owns 804,510 shares in the company, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap-on Stock Performance

SNA traded down $0.20 during trading on Thursday, hitting $319.89. The stock had a trading volume of 64,067 shares, compared to its average volume of 363,396. The company has a 50 day moving average price of $320.13 and a 200-day moving average price of $336.42. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm earned $4.91 earnings per share. As a group, research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be paid a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.68%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Robert W. Baird lowered their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Wall Street Zen upgraded Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. Finally, Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $350.83.

Institutional Trading of Snap-on

Several institutional investors have recently added to or reduced their stakes in SNA. Alpine Bank Wealth Management acquired a new position in Snap-on in the 1st quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter valued at $28,000. Golden State Wealth Management LLC raised its holdings in Snap-on by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in Snap-on by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

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.