Snap-on (NYSE:SNA) Releases Earnings Results, Beats Estimates By $0.09 EPS

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

Snap-on Price Performance

SNA opened at $261.76 on Friday. The company has a fifty day moving average price of $283.65 and a two-hundred day moving average price of $278.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. Snap-on has a 52 week low of $239.08 and a 52 week high of $298.49. The firm 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.

Snap-on Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNA shares. Barrington Research reissued an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Monday. Robert W. Baird lowered their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company 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. 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Snap-on has an average rating of “Hold” and an average price target of $301.40.

Insiders Place Their Bets

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,368 shares of company stock valued at $13,399,449. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Snap-on

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. boosted its position in shares of Snap-on by 15.6% during the fourth quarter. Harbour Investments Inc. now owns 311 shares of the company’s stock worth $90,000 after purchasing an additional 42 shares in the last quarter. Balentine LLC boosted its position in shares of Snap-on by 4.5% during the second quarter. Balentine LLC now owns 1,004 shares of the company’s stock worth $289,000 after purchasing an additional 43 shares in the last quarter. Kolinsky Wealth Management LLC lifted its position in Snap-on by 2.9% in the 1st quarter. Kolinsky Wealth Management LLC now owns 1,586 shares of the company’s stock valued at $392,000 after acquiring an additional 44 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Snap-on by 2.6% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,962 shares of the company’s stock valued at $403,000 after acquiring an additional 49 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

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.