888 reiterated their reiterates rating on shares of Snap-on (NYSE:SNA – Get Rating) in a research note published on Wednesday morning, Benzinga reports.
Other equities analysts have also issued research reports about the company. Roth Mkm upgraded Snap-on from a neutral rating to a buy rating and increased their target price for the stock from $278.00 to $298.00 in a research note on Thursday, May 18th. Tigress Financial reiterated a buy rating and set a $302.00 target price (up previously from $298.00) on shares of Snap-on in a research note on Thursday, March 2nd. 92 Resources reiterated a reiterates rating on shares of Snap-on in a research note on Wednesday. MKM Partners increased their price target on Snap-on from $238.00 to $259.00 in a research report on Friday, February 3rd. Finally, StockNews.com started coverage on Snap-on in a research report on Thursday, May 18th. They set a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of Hold and an average price target of $260.57.
Snap-on Stock Performance
NYSE:SNA traded up $1.59 on Wednesday, hitting $257.35. The company’s stock had a trading volume of 191,769 shares, compared to its average volume of 306,285. The company has a current ratio of 3.48, a quick ratio of 2.43 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $248.45 and a two-hundred day moving average of $243.23. The firm has a market capitalization of $13.62 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 2.07 and a beta of 1.09. Snap-on has a one year low of $190.08 and a one year high of $265.02.
Snap-on Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, May 18th. Snap-on’s dividend payout ratio (DPR) is presently 37.18%.
Insider Activity
In other news, Director Karen L. Daniel sold 2,046 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $245.38, for a total value of $502,047.48. Following the completion of the sale, the director now directly owns 8,028 shares in the company, valued at approximately $1,969,910.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,800 shares of Snap-on stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $236.05, for a total transaction of $5,381,940.00. Following the completion of the transaction, the chief executive officer now owns 676,929 shares in the company, valued at approximately $159,789,090.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen L. Daniel sold 2,046 shares of Snap-on stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $245.38, for a total value of $502,047.48. Following the transaction, the director now owns 8,028 shares of the company’s stock, valued at approximately $1,969,910.64. The disclosure for this sale can be found here. Insiders sold a total of 56,884 shares of company stock worth $14,194,715 in the last three months. Company insiders own 4.20% of the company’s stock.
Hedge Funds Weigh In On Snap-on
Hedge funds and other institutional investors have recently modified their holdings of the business. Carl Stuart Investment Advisor Inc. purchased a new position in shares of Snap-on in the 1st quarter worth approximately $208,645,000. Clear Street Markets LLC raised its holdings in shares of Snap-on by 96.3% in the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after purchasing an additional 52 shares during the period. Copeland Capital Management LLC raised its holdings in shares of Snap-on by 653.3% in the 4th quarter. Copeland Capital Management LLC now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 98 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Snap-on in the 1st quarter worth approximately $29,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.
Snap-on Company Profile
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.
See Also
- Get a free copy of the StockNews.com research report on Snap-on (SNA)
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
- Hot Inflation, What It Means For The Summer Rally
Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.
