Richard Thomas Miller Sells 2,000 Shares of Snap-On (NYSE:SNA) Stock

Key Points

• Snap-On VP Richard Thomas Miller sold 2,000 shares on July 1 at an average price of $405.92, generating about $811,840. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Snap-On shares rose 2.2% to $412.09, near their 52-week high of $412.33. Trading volume was above average, and the stock has a market cap of about $21.35 billion.
• The company posted mixed quarterly results, with EPS of $4.69 missing estimates but revenue of $1.21 billion slightly beating expectations. Snap-On also pays a quarterly dividend of $2.44 per share and recently authorized a $500 million share repurchase plan.

Snap-On Incorporated (NYSE:SNA - Get Free Report) VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president owned 4,529 shares in the company, valued at $1,838,411.68. This represents a 30.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Richard Thomas Miller also recently made the following trade(s):

• On Wednesday, June 10th, Richard Thomas Miller sold 427 shares of Snap-On stock. The shares were sold at an average price of $389.55, for a total transaction of $166,337.85.

Snap-On Stock Up 2.2%

SNA traded up $8.81 during trading hours on Thursday, reaching $412.09. 414,183 shares of the stock traded hands, compared to its average volume of 372,612. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $412.33. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.83 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The firm's fifty day simple moving average is $379.51 and its two-hundred day simple moving average is $371.82.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.51 EPS. As a group, analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On's payout ratio is 50.39%.

Snap-On declared that its Board of Directors has approved a share repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Snap-On by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company's stock valued at $2,248,683,000 after acquiring an additional 31,073 shares in the last quarter. State Street Corp boosted its holdings in Snap-On by 1.3% in the fourth quarter. State Street Corp now owns 2,272,041 shares of the company's stock worth $782,945,000 after purchasing an additional 28,071 shares during the period. First Trust Advisors LP boosted its holdings in Snap-On by 3.3% in the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company's stock worth $738,473,000 after purchasing an additional 65,521 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company's stock valued at $693,306,000 after purchasing an additional 39,765 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock worth $454,206,000 after purchasing an additional 51,486 shares during the period. Institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SNA shares. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Barclays started coverage on Snap-On in a research note on Thursday, May 28th. They set an "overweight" rating and a $420.00 target price for the company. Robert W. Baird lifted their price target on shares of Snap-On from $380.00 to $395.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $387.67.

About Snap-On

Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

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