Snap-on (NYSE:SNA) Shares Gap Down to $283.50

Snap-on Incorporated (NYSE:SNA - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $283.50, but opened at $273.67. Snap-on shares last traded at $265.74, with a volume of 122,384 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Tigress Financial reiterated a "buy" rating and set a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Roth Mkm reiterated a "buy" rating and set a $324.00 target price on shares of Snap-on in a research note on Thursday. Finally, Barrington Research reiterated an "outperform" rating and set a $325.00 target price on shares of Snap-on in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $306.00.

Snap-on Stock Down 7.7 %

The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 2.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. The stock has a 50-day moving average of $283.65 and a 200-day moving average of $278.16.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.66 by $0.09. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.42 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 19.22 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Friday, February 23rd. Snap-on's dividend payout ratio is currently 39.68%.

Insider Buying and Selling at Snap-on

In other Snap-on news, 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 sale, the chief financial officer now owns 93,183 shares of the company's stock, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares of the company's stock, valued at approximately $213,420,264.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were 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 in the company, valued at approximately $25,213,456.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNA. Clear Street Markets LLC lifted its stake in shares of Snap-on by 96.3% in the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company's stock valued at $26,000 after acquiring an additional 52 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company's stock valued at $27,000 after acquiring an additional 47 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of Snap-on in the 4th quarter valued at $30,000. BKM Wealth Management LLC bought a new position in shares of Snap-on in the 4th quarter valued at $33,000. Finally, Peoples Bank KS bought a new position in shares of Snap-on in the 3rd quarter valued at $40,000. 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.