Tigress Financial Issues Positive Forecast for Snap-on (NYSE:SNA) Stock Price

Snap-on (NYSE:SNA) had its target price boosted by Tigress Financial from $385.00 to $390.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $346.40.

Snap-on Trading Down 1.4 %

Shares of SNA stock opened at $329.53 on Tuesday. Snap-on has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The stock has a market cap of $17.26 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.21 and a beta of 0.99. The business has a fifty day simple moving average of $343.03 and a 200-day simple moving average of $326.70. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company earned $4.75 earnings per share. On average, analysts forecast that Snap-on will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,003 shares of company stock worth $14,636,064. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Snap-on

Hedge funds have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC acquired a new stake in Snap-on in the 4th quarter worth about $512,000. Vest Financial LLC boosted its stake in Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after buying an additional 2,460 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after buying an additional 67 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after buying an additional 1,605 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Snap-on in the 3rd quarter valued at about $19,291,000. 84.88% of the stock is owned by institutional investors and hedge funds.

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.