Snap-On (NYSE:SNA) CFO Aldo John Pagliari Sells 1,330 Shares

Key Points

• Snap-On CFO Aldo John Pagliari sold 1,330 shares on June 4 at an average price of $379.27, totaling about $504,429. After the sale, he still held 118,158 shares valued at roughly $44.8 million.
• This follows another insider sale earlier in May, when Pagliari sold 5,713 shares at an average price of $367.19 for about $2.10 million.
• Snap-On continues to return capital to shareholders through a $2.44 quarterly dividend and a new $500 million share repurchase program. The stock also has mixed-but-generally positive analyst support, with a consensus “Moderate Buy” rating and target price of $387.67.

Snap-On Incorporated (NYSE:SNA - Get Free Report) CFO Aldo John Pagliari sold 1,330 shares of Snap-On stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the sale, the chief financial officer owned 118,158 shares in the company, valued at approximately $44,813,784.66. This represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Aldo John Pagliari also recently made the following trade(s):

• On Thursday, May 14th, Aldo John Pagliari sold 5,713 shares of Snap-On stock. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47.

Snap-On Stock Performance

Shares of NYSE SNA traded up $1.56 during midday trading on Thursday, reaching $378.95. 247,220 shares of the company traded hands, compared to its average volume of 372,355. Snap-On Incorporated has a 52 week low of $301.82 and a 52 week high of $400.88. The stock has a 50-day moving average price of $372.03 and a 200 day moving average price of $364.83. 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 company has a market cap of $19.63 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.62 and a beta of 0.73.

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 for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $4.51 earnings per share. Snap-On's revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On's payout ratio is presently 50.39%.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Snap-On

A number of institutional investors have recently bought and sold shares of the stock. DV Trading LLC purchased a new position in Snap-On in the 1st quarter worth about $247,000. Parallel Advisors LLC increased its stake in Snap-On by 13.6% in the 1st quarter. Parallel Advisors LLC now owns 753 shares of the company's stock worth $274,000 after purchasing an additional 90 shares in the last quarter. Cozad Asset Management Inc. increased its stake in Snap-On by 3.6% in the 1st quarter. Cozad Asset Management Inc. now owns 7,675 shares of the company's stock worth $2,788,000 after purchasing an additional 264 shares in the last quarter. Axiom Investment Management LLC purchased a new position in Snap-On in the 1st quarter worth about $118,000. Finally, Western Wealth Management LLC purchased a new position in Snap-On in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.