Nicholas T. Pinchuk Sells 22,800 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA – Get Rating) CEO Nicholas T. Pinchuk sold 22,800 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $236.05, for a total value of $5,381,940.00. Following the transaction, the chief executive officer now owns 676,929 shares of the company’s stock, valued at $159,789,090.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Snap-on Price Performance

NYSE SNA opened at $231.74 on Friday. The stock has a market capitalization of $12.31 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.99 and a beta of 1.10. Snap-on Incorporated has a 1 year low of $190.08 and a 1 year high of $259.78. The business’s fifty day moving average is $246.47 and its two-hundred day moving average is $231.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.40 and a current ratio of 3.47.

Snap-on (NYSE:SNA – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.33. Snap-on had a return on equity of 20.83% and a net margin of 20.29%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $4.10 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that Snap-on Incorporated will post 17.1 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 23rd were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Wednesday, February 22nd. Snap-on’s dividend payout ratio (DPR) is currently 38.50%.

Institutional Trading of Snap-on

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Snap-on by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,564,799 shares of the company’s stock valued at $1,321,822,000 after purchasing an additional 92,450 shares during the period. BlackRock Inc. raised its stake in Snap-on by 0.3% during the 3rd quarter. BlackRock Inc. now owns 4,653,001 shares of the company’s stock valued at $936,881,000 after purchasing an additional 13,797 shares during the period. Geode Capital Management LLC raised its stake in Snap-on by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,387,697 shares of the company’s stock valued at $316,627,000 after purchasing an additional 15,479 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Snap-on by 9.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,269,093 shares of the company’s stock worth $289,975,000 after acquiring an additional 114,488 shares during the last quarter. Finally, Ariel Investments LLC increased its stake in shares of Snap-on by 1.8% in the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock worth $232,038,000 after acquiring an additional 20,485 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNA has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Snap-on in a research report on Thursday. They issued a “buy” rating for the company. MKM Partners upped their target price on Snap-on from $238.00 to $259.00 in a research report on Friday, February 3rd. Oppenheimer downgraded Snap-on from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 6th. Tigress Financial restated a “buy” rating and issued a $302.00 target price (up from $298.00) on shares of Snap-on in a research report on Thursday, March 2nd. Finally, Roth Capital restated a “neutral” rating on shares of Snap-on in a research report on Thursday, February 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap-on currently has an average rating of “Hold” and an average price target of $250.25.

About Snap-on

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Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.