Snap-on Incorporated (NYSE:SNA) Receives $316.75 Average PT from Brokerages

Snap-on Incorporated (NYSE:SNA) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $316.75.

A number of analysts have commented on the stock. Robert W. Baird cut their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Roth Mkm reissued a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 2,562 shares of Snap-on stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the completion of the sale, the senior vice president now owns 8,663 shares in the company, valued at approximately $2,333,379.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jesus Arregui sold 2,562 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the transaction, the senior vice president now owns 8,663 shares of the company’s stock, valued at approximately $2,333,379.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock valued at $14,089,523 over the last 90 days. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of Snap-on by 25.8% in the 3rd quarter. SG Americas Securities LLC now owns 4,441 shares of the company’s stock valued at $1,133,000 after buying an additional 910 shares during the period. Oak Thistle LLC lifted its stake in Snap-on by 107.4% in the third quarter. Oak Thistle LLC now owns 2,286 shares of the company’s stock worth $583,000 after acquiring an additional 1,184 shares during the last quarter. Czech National Bank grew its holdings in Snap-on by 47.6% during the 3rd quarter. Czech National Bank now owns 9,248 shares of the company’s stock worth $2,359,000 after acquiring an additional 2,981 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Snap-on by 85.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,689 shares of the company’s stock valued at $13,439,000 after purchasing an additional 24,316 shares during the last quarter. Finally, Connecticut Wealth Management LLC increased its position in shares of Snap-on by 128.1% in the 3rd quarter. Connecticut Wealth Management LLC now owns 1,674 shares of the company’s stock valued at $427,000 after purchasing an additional 940 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Down 1.6 %

Shares of SNA opened at $267.83 on Friday. The stock has a 50 day moving average price of $284.39 and a 200 day moving average price of $279.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.87 and a beta of 0.99. Snap-on has a one year low of $247.68 and a one year high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.60 earnings per share. Equities research analysts forecast that Snap-on will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be given a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.78%. Snap-on’s payout ratio is currently 39.03%.

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.