Snap-on Incorporated (NYSE:SNA) Director Sells $348,712.80 in Stock

Snap-on Incorporated (NYSE:SNA - Get Free Report) Director Karen L. Daniel sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director now owns 8,030 shares of the company's stock, valued at $2,568,957.60. The trade was a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Snap-on Trading Up 0.9%

SNA traded up $2.89 during trading on Friday, hitting $321.91. The company's stock had a trading volume of 207,661 shares, compared to its average volume of 365,837. The stock has a market cap of $16.83 billion, a PE ratio of 16.51, a PEG ratio of 2.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The firm's 50 day moving average price is $319.41 and its 200-day moving average price is $335.59. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted $4.91 EPS. On average, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.66%. Snap-on's payout ratio is currently 44.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNA. Caprock Group LLC lifted its holdings in shares of Snap-on by 40.9% during the 4th quarter. Caprock Group LLC now owns 1,381 shares of the company's stock valued at $469,000 after purchasing an additional 401 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Snap-on by 4.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,393 shares of the company's stock worth $473,000 after purchasing an additional 60 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock worth $344,000 after purchasing an additional 30 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Snap-on by 10.0% in the fourth quarter. CENTRAL TRUST Co now owns 651 shares of the company's stock valued at $221,000 after buying an additional 59 shares in the last quarter. Finally, Optas LLC bought a new position in Snap-on in the fourth quarter valued at about $201,000. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen raised Snap-on from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. Robert W. Baird reduced their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Snap-on presently has an average rating of "Moderate Buy" and a consensus price target of $350.83.

About Snap-on

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.