Insider Selling: Snap-on Incorporated (NYSE:SNA) SVP Sells 12,737 Shares of Stock

Snap-on Incorporated (NYSE:SNA) SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Snap-on Price Performance

SNA traded up $0.89 on Tuesday, reaching $333.48. 364,791 shares of the company’s stock were exchanged, compared to its average volume of 305,230. The stock has a market cap of $17.51 billion, a PE ratio of 17.16, a P/E/G ratio of 2.16 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a twelve month low of $252.21 and a twelve month high of $335.50. The stock’s fifty day moving average price is $291.67 and its 200-day moving average price is $278.30.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.23%. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

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

Hedge Funds Weigh In On Snap-on

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNA. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Snap-on during the 1st quarter worth approximately $422,000. Diversified Trust Co lifted its stake in shares of Snap-on by 7.4% in the 1st quarter. Diversified Trust Co now owns 3,755 shares of the company’s stock valued at $1,112,000 after purchasing an additional 260 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Snap-on by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,573 shares of the company’s stock worth $1,355,000 after purchasing an additional 614 shares during the period. Norden Group LLC increased its position in shares of Snap-on by 1,678.2% during the 1st quarter. Norden Group LLC now owns 30,976 shares of the company’s stock worth $9,176,000 after purchasing an additional 29,234 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in Snap-on by 15.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 1,085 shares of the company’s stock valued at $321,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the subject of several research analyst reports. Robert W. Baird upped their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America lifted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $345.40.

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.