Insider Selling: Snap-On (NYSE:SNA) CFO Sells 6,779 Shares of Stock

by · The Markets Daily

Snap-On Incorporated (NYSE:SNA – Get Free Report) CFO Aldo John Pagliari sold 6,779 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the transaction, the chief financial officer owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Thursday, December 4th, Aldo John Pagliari sold 3,091 shares of Snap-On stock. The stock was sold at an average price of $346.80, for a total value of $1,071,958.80.

Snap-On Price Performance

Shares of Snap-On stock traded up $3.01 during mid-day trading on Thursday, reaching $351.47. 350,585 shares of the stock traded hands, compared to its average volume of 358,090. The stock has a market capitalization of $18.28 billion, a PE ratio of 18.43, a PEG ratio of 2.59 and a beta of 0.78. The business has a 50-day moving average of $339.69 and a 200 day moving average of $329.51. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $365.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA – Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $4.70 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were paid a $2.44 dividend. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, November 21st. Snap-On’s payout ratio is 51.18%.

Hedge Funds Weigh In On Snap-On

A number of hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC acquired a new position in Snap-On in the first quarter valued at about $239,000. Invesco Ltd. raised its stake in shares of Snap-On by 7.5% in the 1st quarter. Invesco Ltd. now owns 684,875 shares of the company’s stock valued at $230,810,000 after acquiring an additional 47,557 shares during the period. Entropy Technologies LP acquired a new position in shares of Snap-On in the 1st quarter worth approximately $775,000. Nuveen LLC purchased a new position in shares of Snap-On during the 1st quarter worth approximately $45,711,000. Finally, AIA Group Ltd increased its holdings in Snap-On by 19.5% in the 1st quarter. AIA Group Ltd now owns 2,484 shares of the company’s stock valued at $837,000 after purchasing an additional 406 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SNA shares. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Tigress Financial upped their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Robert W. Baird raised their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Check Out Our Latest Analysis on SNA

About Snap-On

(Get Free Report)

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.

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