Insider Selling: Snap-on Incorporated (NYSE:SNA) CEO Sells 22,700 Shares of Stock

Snap-on Incorporated (NYSE:SNA) CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snap-on Stock Performance

NYSE:SNA opened at $329.09 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a fifty day moving average of $340.12 and a 200-day moving average of $333.51. The firm has a market capitalization of $17.25 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the company earned $4.75 earnings per share. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNA. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new stake in Snap-on during the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on in the fourth quarter valued at $28,000. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter valued at $39,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Snap-on during the fourth quarter valued at about $40,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNA. Tigress Financial upped their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $346.40.

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.