Richard Thomas Miller Sells 427 Shares of Snap-On (NYSE:SNA) Stock

Key Points

• Snap-On VP Richard Thomas Miller sold 427 shares on June 10 at an average price of $389.55, totaling about $166,338. After the sale, he still held 4,527 shares, a decrease of 8.62% in his position.
• Snap-On recently reported quarterly earnings of $4.69 per share, missing analyst estimates by $0.06, while revenue came in at $1.21 billion, above expectations and up 5.8% year over year.
• The company continues to return cash to shareholders, recently paying a $2.44 quarterly dividend and authorizing a $500 million share buyback. Wall Street sentiment remains constructive, with a consensus rating of Moderate Buy and an average price target of $387.67.

Snap-On Incorporated (NYSE:SNA - Get Free Report) VP Richard Thomas Miller sold 427 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the sale, the vice president owned 4,527 shares in the company, valued at approximately $1,763,492.85. This represents a 8.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Price Performance

Shares of SNA stock traded up $6.65 on Thursday, reaching $385.10. The company's stock had a trading volume of 300,747 shares, compared to its average volume of 367,865. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88. The company has a market capitalization of $19.95 billion, a P/E ratio of 19.88, a PEG ratio of 2.72 and a beta of 0.73. The stock's 50 day simple moving average is $374.00 and its 200-day simple moving average is $366.63.

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

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On's dividend payout ratio is currently 50.39%.

Snap-On declared that its board has approved a share buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SNA shares. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Monday, April 20th. Tigress Financial raised their price objective on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They set an "overweight" rating and a $420.00 price objective on the stock. Roth Mkm reaffirmed a "buy" rating and set a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Finally, Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $387.67.

Institutional Trading of Snap-On

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company's stock worth $2,248,683,000 after purchasing an additional 31,073 shares during the last quarter. State Street Corp grew its stake in shares of 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 last quarter. First Trust Advisors LP boosted its position in Snap-On by 3.3% during the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company's stock valued at $738,473,000 after acquiring an additional 65,521 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Snap-On by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company's stock valued at $693,306,000 after acquiring an additional 39,765 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Snap-On by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock valued at $454,206,000 after acquiring an additional 51,486 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

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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