Snap-On Incorporated (NYSE:SNA) Receives $370.67 Consensus Target Price from Brokerages

Snap-On Incorporated (NYSE:SNA) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $370.6667.

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Robert W. Baird set a $375.00 price objective on Snap-On in a research note on Friday, February 6th. Roth Mkm reissued a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st.

Insider Buying and Selling at Snap-On

In related news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the completion of the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at approximately $1,448,106.66. This represents a 32.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the sale, the senior vice president owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 75,855 shares of company stock worth $27,629,827. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Snap-On

Several hedge funds have recently modified their holdings of SNA. Vanguard Group Inc. boosted its holdings in Snap-On by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after acquiring an additional 31,073 shares during the period. State Street Corp lifted its position in shares of Snap-On by 1.3% during the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after purchasing an additional 28,071 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock worth $693,306,000 after purchasing an additional 39,765 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Snap-On by 2.7% in the fourth quarter. First Trust Advisors LP now owns 1,967,608 shares of the company’s stock valued at $678,038,000 after purchasing an additional 51,037 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Snap-On by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Performance

NYSE:SNA opened at $386.94 on Thursday. The company has a market cap of $20.09 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.67 and a beta of 0.81. The firm’s 50 day moving average is $366.21 and its two-hundred day moving average is $347.03. Snap-On has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.82 EPS. Analysts expect that Snap-On will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.