Insider Selling: Snap-on Incorporated (NYSE:SNA) CEO Sells $7,611,764.00 in Stock

Snap-on Incorporated (NYSE:SNA) CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Snap-on Trading Down 1.9 %

Shares of SNA opened at $329.09 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99. The business’s fifty day moving average is $340.12 and its 200-day moving average is $333.51.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $4.75 earnings per share. Equities analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNA. Raymond James Financial Inc. acquired a new position in Snap-on in the 4th quarter worth about $148,839,000. Norges Bank acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $145,342,000. First Trust Advisors LP raised its holdings in Snap-on by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock valued at $617,651,000 after buying an additional 411,317 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Snap-on during the 4th quarter worth approximately $57,738,000. Finally, Benjamin Edwards Inc. grew its holdings in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after acquiring an additional 152,428 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.