The Sr VP & Chief Devel. Officer of Snap-on is Exercising Options

By Carrie Williams

Yesterday it was reported that the Sr VP & Chief Devel. Officer of Snap-on (SNAResearch Report), Banerjee Anup, exercised options to sell 6,076 SNA shares at $161.18 a share, for a total transaction value of $1.45M.

In addition to Banerjee Anup, one other SNA executive reported Sell trades in the last month.

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Based on Snap-on’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.11 billion and quarterly net profit of $193 million. In comparison, last year the company earned revenue of $938 million and had a net profit of $137 million. The company has a one-year high of $242.18 and a one-year low of $115.60. Currently, Snap-on has an average volume of 306.55K.

Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $259.67, reflecting a -8.3% downside.

The insider sentiment on Snap-on has been negative according to 46 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Snap-On, Inc. engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its Products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. It operates through following segments: Commercial and Industrial Group; Snap-On Tools Group; Repair Systems and Information Group; and Financial Services. The Commercial and Industrial Group segment consists of business operations that serve the aerospace, natural resources, government, power generation, transportation and technical education markets. The Snap-On Tools Group segment includes business operations primarily serving vehicle service and repair technicians through worldwide mobile tool distribution channel. The Repair System and Information Group segment serves other professionals vehicle repair customers, primarily owners and managers of independent repair shops and original equipment manufacturer dealerships through direct and distributor channels. The Financial Services segment comprises of installment sales and lease contracts arising from franchisees’ customers, and business loans and vehicle leases to franchisees. The company was founded by Joseph Johnson and William Seidemann in 1920 and is headquartered in Kenosha, WI.