Snap-on (NYSE:SNA) Reaches New 12-Month High at $298.49

Shares of Snap-on Incorporated (NYSE:SNA) hit a new 52-week high on Thursday . The stock traded as high as $298.49 and last traded at $297.60, with a volume of 32911 shares traded. The stock had previously closed at $296.94.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research reports. Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Thursday, February 8th. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $306.00.

Snap-on Stock Performance

The firm’s fifty day moving average is $283.38 and its 200-day moving average is $274.79. The company has a current ratio of 3.88, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $15.65 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.98.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $4.42 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Snap-on Incorporated will post 19.21 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.51%. Snap-on’s dividend payout ratio is presently 39.68%.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Anup R. Banerjee sold 12,397 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $283.13, for a total value of $3,509,962.61. Following the completion of the sale, the senior vice president now directly owns 11,420 shares of the company’s stock, valued at $3,233,344.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,664 shares of company stock worth $13,189,544. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNA. Norges Bank purchased a new stake in shares of Snap-on during the fourth quarter worth approximately $145,665,000. Nordea Investment Management AB lifted its stake in shares of Snap-on by 52.8% in the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after acquiring an additional 298,727 shares during the period. Wellington Management Group LLP increased its stake in shares of Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after acquiring an additional 237,843 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Snap-on by 25.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after purchasing an additional 147,997 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in Snap-on by 1,416.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after purchasing an additional 137,920 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Company Profile

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.