Nicholas T. Pinchuk Sells 22,700 Shares of Snap-on Incorporated (NYSE:SNA) Stock

Snap-on Incorporated (NYSE:SNA) CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction dated 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 owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Snap-on Stock Performance

SNA traded down $2.05 during trading hours on Thursday, reaching $335.40. The company’s stock had a trading volume of 308,275 shares, compared to its average volume of 324,923. The firm has a market cap of $17.58 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company’s 50-day moving average is $340.71 and its 200-day moving average is $332.73. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. 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 (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $4.75 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Institutional Investors Weigh In On Snap-on

A number of large investors have recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC acquired a new stake in shares of Snap-on during the 4th quarter worth approximately $512,000. Vest Financial LLC increased its stake in shares of Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after buying an additional 2,460 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after acquiring an additional 1,605 shares during the last quarter. World Investment Advisors LLC bought a new position in Snap-on during the 3rd quarter worth $19,291,000. Finally, Avanza Fonder AB bought a new position in shares of Snap-on during the fourth quarter worth about $1,936,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNA. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $346.40.

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.