Snap-on (NYSE:SNA) Issues Earnings Results, Beats Estimates By $0.09 EPS

Snap-on (NYSE:SNA) released its quarterly earnings data on Thursday. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09, Briefing.com reports. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $4.60 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year.

Snap-on Stock Up 2.7 %

SNA opened at $268.80 on Friday. Snap-on has a one year low of $245.73 and a one year high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.82. The stock’s fifty day moving average is $283.78 and its 200-day moving average is $278.44. The company has a market capitalization of $14.20 billion, a PE ratio of 14.10, a P/E/G ratio of 1.92 and a beta of 0.99.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is presently 39.03%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SNA shares. Robert W. Baird reduced their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday. Tigress Financial reiterated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $301.40.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,368 shares of company stock valued at $13,399,449. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

A number of institutional investors and hedge funds have recently modified their holdings of SNA. Norges Bank acquired a new stake in shares of Snap-on during the fourth quarter worth $112,490,000. Wellington Management Group LLP grew its holdings in shares of Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock valued at $49,551,000 after buying an additional 237,843 shares in the last quarter. Morgan Stanley grew its holdings in shares of Snap-on by 12.8% during the fourth quarter. Morgan Stanley now owns 758,417 shares of the company’s stock valued at $173,291,000 after buying an additional 85,896 shares in the last quarter. National Pension Service grew its holdings in shares of Snap-on by 440.1% during the second quarter. National Pension Service now owns 103,772 shares of the company’s stock valued at $29,778,000 after buying an additional 84,558 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Snap-on by 145.7% during the first quarter. Renaissance Technologies LLC now owns 119,900 shares of the company’s stock valued at $24,637,000 after buying an additional 71,100 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

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.