Snap-on Incorporated (NYSE:SNA) VP Iain Boyd Sells 8,963 Shares

Posted by Defense World Staff on Jul 13th, 2023

Snap-on Incorporated (NYSE:SNA – Get Free Report) VP Iain Boyd sold 8,963 shares of the company’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $289.30, for a total value of $2,592,995.90. Following the sale, the vice president now owns 7,345 shares of the company’s stock, valued at approximately $2,124,908.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Iain Boyd also recently made the following trade(s):

On Friday, June 30th, Iain Boyd sold 4,537 shares of Snap-on stock. The stock was sold at an average price of $289.07, for a total value of $1,311,510.59.
On Thursday, June 15th, Iain Boyd sold 8,010 shares of Snap-on stock. The stock was sold at an average price of $274.31, for a total value of $2,197,223.10.

Snap-on Stock Up 0.6 %

Shares of NYSE SNA opened at $292.85 on Thursday. Snap-on Incorporated has a one year low of $192.25 and a one year high of $294.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.48 and a quick ratio of 2.43. The business’s fifty day moving average price is $268.52 and its 200-day moving average price is $252.53. The stock has a market capitalization of $15.50 billion, a PE ratio of 16.80, a P/E/G ratio of 2.07 and a beta of 1.12.

Snap-on (NYSE:SNA – Get Free Report) last released its quarterly earnings data on Thursday, April 20th. The company reported $4.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.46. Snap-on had a return on equity of 21.17% and a net margin of 20.60%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $4.00 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Snap-on Incorporated will post 17.82 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 19th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.21%. Snap-on’s payout ratio is 37.18%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Tigress Financial boosted their price objective on Snap-on from $302.00 to $328.00 in a research report on Wednesday, June 21st. StockNews.com initiated coverage on Snap-on in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Longbow Research raised Snap-on from an “underperform” rating to a “neutral” rating in a research report on Friday, April 21st. Roth Capital raised Snap-on from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. Finally, 888 reissued a “reiterates” rating on shares of Snap-on in a research report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $264.29.

Institutional Trading of Snap-on

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Copeland Capital Management LLC raised its stake in shares of Snap-on by 653.3% during the 4th quarter. Copeland Capital Management LLC now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 98 shares during the period. Clear Street Markets LLC boosted its holdings in Snap-on by 96.3% during the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after acquiring an additional 52 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Snap-on by 57.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares during the period. Ridgewood Investments LLC purchased a new stake in Snap-on during the 1st quarter valued at about $29,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in Snap-on during the 4th quarter valued at about $32,000. 92.45% of the stock is currently owned by institutional investors.

About Snap-on

(Get Free Report)

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.