Snap-On Incorporated (NYSE:SNA) VP Irwin M. Shur sold 250 shares of Snap-On stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $171.85, for a total transaction of $42,962.50. Following the completion of the sale, the vice president now owns 9,442 shares of the company’s stock, valued at approximately $1,622,607.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Snap-On Incorporated (NYSE:SNA) traded down 0.50% during trading on Friday, reaching $172.44. 220,176 shares of the company’s stock traded hands. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 18.74 and a beta of 1.06. Snap-On Incorporated has a 52-week low of $142.55 and a 52-week high of $181.73. The company’s 50 day moving average is $174.05 and its 200-day moving average is $162.10.
Snap-On (NYSE:SNA) last posted its earnings results on Thursday, February 2nd. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.06. Snap-On had a net margin of 15.93% and a return on equity of 20.89%. The firm earned $889.80 million during the quarter, compared to analyst estimates of $884.09 million. During the same quarter in the prior year, the business posted $2.22 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Snap-On Incorporated will post $10.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 24th will be paid a $0.71 dividend. The ex-dividend date is Wednesday, February 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.64%. Snap-On’s payout ratio is 30.84%.
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Several hedge funds have recently bought and sold shares of SNA. JPMorgan Chase & Co. raised its stake in Snap-On by 39.1% in the third quarter. JPMorgan Chase & Co. now owns 4,149,833 shares of the company’s stock valued at $630,609,000 after buying an additional 1,166,037 shares during the last quarter. Congress Asset Management Co. MA purchased a new stake in Snap-On during the fourth quarter valued at about $54,678,000. Adage Capital Partners GP L.L.C. raised its stake in Snap-On by 66.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 795,662 shares of the company’s stock valued at $120,909,000 after buying an additional 318,427 shares during the last quarter. Ashmore Wealth Management LLC purchased a new stake in Snap-On during the fourth quarter valued at about $54,412,000. Finally, Bank of New York Mellon Corp raised its stake in Snap-On by 27.8% in the third quarter. Bank of New York Mellon Corp now owns 1,406,821 shares of the company’s stock valued at $213,780,000 after buying an additional 306,429 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Wunderlich lifted their price objective on shares of Snap-On from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd.
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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