Snap-On Incorporated (NYSE:SNA) Receives $365.00 Consensus PT from Brokerages

Shares of Snap-On Incorporated (NYSE:SNA) have been given an average rating of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $365.00.

A number of research firms have recently weighed in on SNA. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Robert W. Baird boosted their target price on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Tigress Financial upped their target price on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th.

Snap-On Stock Up 1.8%

Shares of NYSE SNA opened at $350.85 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. Snap-On has a 1 year low of $289.81 and a 1 year high of $365.78. The stock’s 50-day simple moving average is $343.02 and its 200-day simple moving average is $333.01. The firm has a market cap of $18.25 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.42 and a beta of 0.80.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business posted $4.70 earnings per share. Snap-On’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is 51.18%.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 6,779 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the sale, the chief financial officer directly owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. This represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the transaction, the vice president owned 4,158 shares in the company, valued at $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,036 shares of company stock valued at $13,710,988 over the last 90 days. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Snap-On

A number of hedge funds have recently added to or reduced their stakes in SNA. Vanguard Group Inc. grew its position in shares of Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the last quarter. State Street Corp boosted its stake in Snap-On by 1.6% during the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after purchasing an additional 36,130 shares during the period. Charles Schwab Investment Management Inc. grew its position in Snap-On by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after purchasing an additional 36,421 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Snap-On by 1.3% in the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after purchasing an additional 23,863 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Snap-On during the second quarter valued at approximately $434,938,000. 84.88% of the stock is currently owned by institutional investors.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.