Snap-on Incorporated (NYSE:SNA) CFO Aldo John Pagliari Sells 6,909 Shares of Stock

Snap-on Incorporated (NYSE:SNA) CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snap-on Price Performance

NYSE:SNA opened at $337.67 on Friday. The stock has a 50 day moving average of $344.32 and a two-hundred day moving average of $298.84. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The firm has a market cap of $17.73 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. On average, analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Hedge Funds Weigh In On Snap-on

A number of institutional investors and hedge funds have recently bought and sold shares of SNA. Reston Wealth Management LLC purchased a new stake in Snap-on in the 3rd quarter valued at $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on during the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV raised its position in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares during the period. Brooklyn Investment Group acquired a new position in Snap-on in the third quarter valued at approximately $39,000. Finally, Quarry LP grew its position in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on SNA shares. Bank of America lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research increased their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.