Snap-on (NYSE:SNA) Trading Down 5.4% – Here’s Why

Snap-on Incorporated (NYSE:SNA) traded down 5.4% during trading on Thursday . The company traded as low as $338.74 and last traded at $336.84. 76,238 shares were traded during trading, a decline of 80% from the average session volume of 375,083 shares. The stock had previously closed at $356.10.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Roth Mkm raised their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barrington Research reaffirmed an “outperform” rating and set a $360.00 price target on shares of Snap-on in a research report on Monday. Finally, Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $347.40.

Snap-on Stock Performance

The stock has a 50-day moving average of $349.05 and a 200-day moving average of $318.38. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. During the same period last year, the firm posted $4.75 EPS. As a group, analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a dividend of $2.14 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. Snap-on’s payout ratio is 44.06%.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock valued at $11,400,978 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNA. UMB Bank n.a. boosted its stake in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new stake in Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on in the 4th quarter valued at $28,000. Reston Wealth Management LLC bought a new stake in Snap-on in the 3rd quarter valued at $30,000. Finally, Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter valued at $39,000. 84.88% of the stock is currently owned by institutional investors.

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.