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. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products. It also provides handheld and computer-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, original equipment manufacturer purchasing facilitation services, and warranty management systems and analytics. In addition, the company offers solutions for the service of vehicles and industrial equipment that include wheel alignment equipment, wheel balancers, tire changers, vehicle lifts, test lane equipment, collision repair equipment, vehicle air conditioning service equipment, brake service equipment, fluid exchange equipment, transmission troubleshooting equipment, safety testing equipment, battery chargers, and hoists, as well as after-sales support services and training programs. Further, it provides financing programs to facilitate the sales of its products and support its franchise business. The company serves the aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education industries, as well as vehicle dealerships and repair centers. Snap-on Incorporated was founded in 1920 and is based in Kenosha, Wisconsin.
Snap-on Stock Up 0.9 %
Snap-on stock traded up $1.95 during trading on Thursday, reaching $228.74. The stock had a trading volume of 328,141 shares, compared to its average volume of 353,342. Snap-on has a 52-week low of $190.08 and a 52-week high of $235.36. The business has a 50 day moving average price of $208.66 and a 200 day moving average price of $211.27. The company has a quick ratio of 2.37, a current ratio of 3.28 and a debt-to-equity ratio of 0.27. The stock has a market cap of $12.18 billion, a PE ratio of 14.35, a P/E/G ratio of 1.77 and a beta of 1.12.
Snap-on (NYSE:SNA - Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.91 by $0.36. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm earned $3.76 earnings per share. The firm's quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts predict that Snap-on will post 15.93 EPS for the current year.
Snap-on Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 19th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 2.48%. Snap-on's dividend payout ratio is currently 35.63%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of Snap-on to $175.00 in a research report on Friday, July 22nd. Tigress Financial lifted their price objective on shares of Snap-on from $295.00 to $298.00 and gave the company a "buy" rating in a report on Monday, April 25th. Finally, MKM Partners began coverage on shares of Snap-on in a report on Thursday, June 9th. They issued a "neutral" rating and a $238.00 price objective for the company.
Insider Buying and Selling
In related news, CEO Nicholas T. Pinchuk sold 19,394 shares of Snap-on stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $216.58, for a total value of $4,200,352.52. Following the completion of the transaction, the chief executive officer now owns 622,123 shares in the company, valued at $134,739,399.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 19,394 shares of the business's stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $216.58, for a total transaction of $4,200,352.52. Following the completion of the sale, the chief executive officer now owns 622,123 shares in the company, valued at approximately $134,739,399.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jesus Arregui sold 488 shares of the business's stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $223.31, for a total transaction of $108,975.28. Following the sale, the senior vice president now owns 2,409 shares of the company's stock, valued at approximately $537,953.79. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.
