Snap-on Incorporated (NYSE:SNA) VP June C. Lemerand Sells 3,500 Shares

Snap-on Incorporated (NYSE:SNA) VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snap-on Stock Down 1.0 %

SNA stock opened at $357.69 on Friday. The firm has a market cap of $18.78 billion, a PE ratio of 18.41, a P/E/G ratio of 2.41 and a beta of 0.98. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a 50 day simple moving average of $334.08 and a 200 day simple moving average of $294.16.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Equities research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNA. Tigress Financial boosted their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America increased 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. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One 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. According to data from MarketBeat, Snap-on presently has an average rating of “Hold” and an average price target of $345.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNA. Mawer Investment Management Ltd. grew its position in Snap-on by 234.7% during the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after purchasing an additional 443,333 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after buying an additional 280,997 shares in the last quarter. Millennium Management LLC raised its position in Snap-on by 1,786.4% during the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after buying an additional 152,631 shares during the period. Benjamin Edwards Inc. grew its stake in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after acquiring an additional 152,428 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after purchasing an additional 129,960 shares during the period. 84.88% of the stock is owned by hedge funds and other 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.