Brokerages Set Snap-on Incorporated (NYSE:SNA) Target Price at $346.40

Snap-on Incorporated (NYSE:SNA) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $355.33.

Several brokerages have recently issued reports on SNA. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Monday. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Finally, Tigress Financial lifted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th.

Snap-on Trading Up 0.8 %

Shares of NYSE:SNA opened at $342.26 on Monday. The business has a 50-day moving average price of $339.41 and a 200-day moving average price of $334.80. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.21 and a beta of 0.99. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.90. 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 data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the business posted $4.75 earnings per share. Equities analysts predict that Snap-on will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is presently 43.90%.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,011 shares of company stock worth $12,116,859. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Snap-on

A number of hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its holdings in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on in the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $28,000. CoreFirst Bank & Trust purchased a new position in Snap-on during the fourth quarter worth approximately $40,000. Finally, TCTC Holdings LLC boosted its stake in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after buying an additional 43 shares during the last quarter. 84.88% of the stock is currently 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.