Snap-on (NYSE:SNA) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Snap-on (NYSE:SNA) issued its earnings results on Thursday. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09, Briefing.com reports. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. Snap-on’s revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $4.60 EPS.

Snap-on Stock Down 7.7 %

Shares of SNA opened at $261.76 on Friday. Snap-on has a 12 month low of $239.08 and a 12 month high of $298.49. The firm’s 50 day moving average is $283.65 and its 200-day moving average is $278.16. The stock has a market capitalization of $13.83 billion, a PE ratio of 13.96, a P/E/G ratio of 2.03 and a beta of 0.99. The company has a current ratio of 3.88, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.84%. Snap-on’s dividend payout ratio is presently 39.68%.

Analyst Ratings Changes

Several research firms have weighed in on SNA. Robert W. Baird lowered their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday. Roth Mkm reissued a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Thursday. Barrington Research reissued an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Monday. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $301.40.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the transaction, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Anup R. Banerjee sold 12,397 shares of Snap-on stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $283.13, for a total value of $3,509,962.61. Following the transaction, the senior vice president now directly owns 11,420 shares of the company’s stock, valued at $3,233,344.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the transaction, the chief financial officer now directly owns 93,183 shares in the company, valued at $25,213,456.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Snap-on by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 72,104 shares of the company’s stock valued at $20,827,000 after buying an additional 1,787 shares in the last quarter. Harbour Investments Inc. boosted its position in Snap-on by 15.6% in the fourth quarter. Harbour Investments Inc. now owns 311 shares of the company’s stock valued at $90,000 after buying an additional 42 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Snap-on by 1.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 25,302 shares of the company’s stock valued at $7,308,000 after buying an additional 361 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Snap-on by 1.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 76,727 shares of the company’s stock valued at $22,162,000 after buying an additional 1,127 shares in the last quarter. Finally, Kensington Investment Counsel LLC boosted its position in Snap-on by 13.1% in the fourth quarter. Kensington Investment Counsel LLC now owns 15,952 shares of the company’s stock valued at $4,608,000 after buying an additional 1,843 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

About Snap-on

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.