Snap-on Incorporated (NYSE:SNA) CEO Nicholas T. Pinchuk Sells 22,700 Shares

Snap-on Incorporated (NYSE:SNA) CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Snap-on Price Performance

Shares of NYSE:SNA opened at $335.40 on Friday. The firm has a market cap of $17.58 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $340.50 and a 200 day simple moving average of $332.75.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the firm posted $4.75 earnings per share. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is 43.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Snap-on in the fourth quarter worth $148,839,000. Norges Bank acquired a new position in Snap-on during the 4th quarter worth $145,342,000. First Trust Advisors LP boosted its stake in Snap-on by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock valued at $617,651,000 after purchasing an additional 411,317 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Snap-on in the fourth quarter valued at approximately $57,738,000. Finally, Benjamin Edwards Inc. boosted its holdings in Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after purchasing an additional 152,428 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of several recent analyst reports. Tigress Financial lifted their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $346.40.

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.