Nicholas T. Pinchuk Sells 23,042 Shares of Snap-On Incorporated (NYSE:SNA) Stock

Key Points

• Snap-On Incorporated CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock at an average price of $320.88, resulting in a total transaction value of over $7.39 million.
• The company recently declared a quarterly dividend of $2.14, set to be paid on September 10th, representing an annualized dividend yield of 2.7%.
• Snap-On reported $4.72 EPS for its last quarter, surpassing analysts' estimates, while revenue was $1.18 billion, slightly above expectations.

Snap-On Incorporated (NYSE:SNA - Get Free Report) CEO Nicholas T. Pinchuk sold 23,042 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap-On Stock Performance

Shares of SNA traded down $0.64 during trading hours on Friday, reaching $324.09. 33,778 shares of the company traded hands, compared to its average volume of 381,463. The stock's fifty day moving average is $319.50 and its 200 day moving average is $325.50. The stock has a market cap of $16.90 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a 1-year low of $268.90 and a 1-year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted $5.07 earnings per share. The company's quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Analyst Ratings Changes

SNA has been the subject of a number of recent research reports. Bank of America upped their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Robert W. Baird upped their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Institutional Trading of Snap-On

Several hedge funds have recently modified their holdings of SNA. Cerity Partners LLC increased its holdings in shares of Snap-On by 105.3% during the fourth quarter. Cerity Partners LLC now owns 16,742 shares of the company's stock worth $5,528,000 after buying an additional 8,586 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Snap-On in the fourth quarter valued at approximately $234,000. Sterling Capital Management LLC boosted its stake in Snap-On by 54.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,154 shares of the company's stock valued at $1,071,000 after acquiring an additional 1,108 shares during the last quarter. Townsquare Capital LLC boosted its stake in Snap-On by 5.6% in the fourth quarter. Townsquare Capital LLC now owns 27,533 shares of the company's stock valued at $9,347,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in shares of Snap-On during the fourth quarter worth $367,000. Institutional investors and hedge funds own 84.88% of the company's stock.

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.