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 on 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 transaction, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Snap-on Stock Down 0.2 %

Shares of NYSE:SNA opened at $332.92 on Thursday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $337.72. The stock’s fifty day simple moving average is $291.67 and its 200-day simple moving average is $278.30. The company has a market capitalization of $17.48 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.16 and a beta of 0.98.

Snap-on announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Snap-on Dividend Announcement

The business also recently disclosed 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 was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.23%. Snap-on’s dividend payout ratio is currently 38.29%.

Institutional Trading of Snap-on

Several institutional investors and hedge funds have recently made changes to their positions in SNA. Earnest Partners LLC lifted its position in Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock worth $246,424,000 after buying an additional 13,033 shares during the period. Nordea Investment Management AB lifted its position in Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock worth $265,217,000 after buying an additional 27,429 shares during the period. Pacer Advisors Inc. lifted its position in Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after buying an additional 280,997 shares during the period. Dimensional Fund Advisors LP lifted its position in Snap-on by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after buying an additional 65,485 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Snap-on by 0.4% during the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock worth $191,487,000 after buying an additional 2,616 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on SNA shares. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $345.40.

About Snap-on

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.