Snap-on (NYSE:SNA) Trading Down 2.8%

Snap-on Incorporated (NYSE:SNA - Get Free Report) traded down 2.8% during mid-day trading on Thursday . The company traded as low as $267.90 and last traded at $267.90. 18,723 shares were traded during trading, a decline of 94% from the average session volume of 298,505 shares. The stock had previously closed at $275.73.

Analyst Ratings Changes

SNA has been the topic of several recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $325.00 price target on shares of Snap-on in a research note on Tuesday. Robert W. Baird cut their target price on Snap-on from $282.00 to $275.00 and set a "neutral" rating on the stock in a research report on Friday, July 12th. Finally, Roth Mkm reissued a "buy" rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $315.00.

Snap-on Trading Down 2.0 %

The company has a market cap of $14.25 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.93 and a beta of 0.98. The business has a fifty day simple moving average of $268.28 and a 200 day simple moving average of $277.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business's revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.89 EPS. Analysts anticipate that Snap-on Incorporated will post 19.01 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Friday, May 17th. Snap-on's dividend payout ratio (DPR) is presently 39.03%.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm's stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares of the company's stock, valued at approximately $200,276,888.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the company's stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the transaction, the chief financial officer now owns 97,699 shares in the company, valued at approximately $27,048,945.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Insiders have sold a total of 38,632 shares of company stock worth $10,353,409 over the last quarter. 4.10% of the stock is owned by company insiders.

Institutional Trading of Snap-on

Large investors have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC increased its holdings in shares of Snap-on by 2.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company's stock valued at $529,000 after purchasing an additional 36 shares during the period. Renasant Bank raised its position in shares of Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company's stock worth $472,000 after buying an additional 36 shares in the last quarter. Phillips Wealth Planners LLC lifted its stake in shares of Snap-on by 3.8% in the 1st quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company's stock worth $286,000 after acquiring an additional 37 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Snap-on by 17.2% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company's stock valued at $79,000 after acquiring an additional 40 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of Snap-on by 0.4% during the first quarter. Czech National Bank now owns 9,286 shares of the company's stock valued at $2,751,000 after acquiring an additional 41 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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.