Snap-on’s (SNA) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Snap-on (NYSE:SNA) in a report issued on Wednesday, Benzinga reports. Barrington Research currently has a $325.00 price target on the stock.

SNA has been the subject of several other reports. Roth Mkm reiterated a buy rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird dropped their price objective on shares of Snap-on from $295.00 to $282.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Finally, Tigress Financial reiterated a buy rating and issued a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of Moderate Buy and a consensus target price of $316.75.

Snap-on Stock Up 0.2 %

SNA stock opened at $270.89 on Wednesday. The company has a market capitalization of $14.28 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. Snap-on has a 12 month low of $247.68 and a 12 month high of $298.49. The firm’s fifty day simple moving average is $281.80 and its 200-day simple moving average is $281.26. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.60 earnings per share. As a group, equities research analysts forecast that Snap-on will post 19.01 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s payout ratio is 39.03%.

Insider Activity at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,677 shares of company stock valued at $14,870,348. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap-on

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal London Asset Management Ltd. lifted its stake in Snap-on by 12.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after purchasing an additional 2,542 shares in the last quarter. Caprock Group LLC acquired a new position in Snap-on during the fourth quarter worth $1,203,000. Kingsview Wealth Management LLC grew its holdings in Snap-on by 42.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 26,456 shares of the company’s stock valued at $7,641,000 after buying an additional 7,830 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Snap-on by 36.9% in the 4th quarter. Teacher Retirement System of Texas now owns 70,740 shares of the company’s stock worth $20,433,000 after acquiring an additional 19,061 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Snap-on by 22.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 19,722 shares of the company’s stock worth $5,697,000 after acquiring an additional 3,578 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.