Snap-on (NYSE:SNA) Issues Earnings Results

Snap-on (NYSE:SNA - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.66 by $0.09, Briefing.com reports. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.60 earnings per share.

Snap-on Price Performance

Shares of Snap-on stock traded up $7.04 during trading hours on Friday, reaching $268.80. 519,961 shares of the company's stock were exchanged, compared to its average volume of 315,203. The business has a fifty day moving average of $283.78 and a two-hundred day moving average of $278.27. The company has a market capitalization of $14.20 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23. Snap-on has a 1 year low of $245.73 and a 1 year high of $298.49.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.77%. Snap-on's dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company's stock, valued at approximately $957,988.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares of the company's stock, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 3,231 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares of the company's stock, valued at $25,213,456.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,368 shares of company stock valued at $13,399,449. Corporate insiders own 4.10% of the company's stock.

Institutional Trading of Snap-on

Several hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Snap-on during the 4th quarter worth about $112,490,000. Wellington Management Group LLP increased its position in shares of Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company's stock valued at $49,551,000 after acquiring an additional 237,843 shares during the last quarter. Morgan Stanley raised its stake in shares of Snap-on by 12.8% in the 4th quarter. Morgan Stanley now owns 758,417 shares of the company's stock valued at $173,291,000 after acquiring an additional 85,896 shares during the period. National Pension Service raised its stake in shares of Snap-on by 440.1% in the 2nd quarter. National Pension Service now owns 103,772 shares of the company's stock valued at $29,778,000 after acquiring an additional 84,558 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Snap-on by 145.7% in the 1st quarter. Renaissance Technologies LLC now owns 119,900 shares of the company's stock valued at $24,637,000 after purchasing an additional 71,100 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Tigress Financial restated a "buy" rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Robert W. Baird cut their price objective on Snap-on from $295.00 to $282.00 and set a "neutral" rating for the company in a research report on Friday. Roth Mkm reiterated a "buy" rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday. Finally, Barrington Research reissued an "outperform" rating and issued a $325.00 price target on shares of Snap-on in a report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $301.40.

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.