June C. Lemerand Sells 1,186 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) VP June C. Lemerand sold 1,186 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Snap-on Stock Up 0.3 %

NYSE SNA opened at $281.14 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49. The stock has a market capitalization of $14.82 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The stock has a fifty day moving average of $271.36 and a 200-day moving average of $275.76.

Snap-on (NYSE:SNA) last issued its 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.89 EPS. On average, equities research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its Board of Directors has initiated a share buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, August 19th. Snap-on’s payout ratio is 39.03%.

Institutional Investors Weigh In On Snap-on

Several large investors have recently bought and sold shares of SNA. Checchi Capital Advisers LLC boosted its holdings in Snap-on by 2.0% in the 4th 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 grew its holdings 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 purchasing an additional 36 shares in the last quarter. Phillips Wealth Planners LLC increased its position in shares of Snap-on by 3.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock worth $286,000 after purchasing an additional 37 shares during the period. TFB Advisors LLC raised its stake in Snap-on by 3.2% in the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after purchasing an additional 38 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its position in Snap-on by 1.2% during the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Tigress Financial reiterated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Robert W. Baird lowered their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $315.00.

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.