Snap-On (NYSE:SNA) Price Target Raised to $445.00 at Tigress Financial

Snap-On (NYSE:SNA) had its target price increased by Tigress Financial from $405.00 to $445.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on SNA. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Robert W. Baird set a $375.00 price target on Snap-On in a research report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $377.33.

Snap-On Stock Down 0.4%

Shares of NYSE:SNA traded down $1.72 during mid-day trading on Friday, hitting $384.95. 358,329 shares of the company traded hands, compared to its average volume of 395,483. The stock has a 50-day moving average price of $367.79 and a two-hundred day moving average price of $347.74. Snap-On has a 12-month low of $289.81 and a 12-month high of $390.13. The stock has a market cap of $19.98 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.67 and a beta of 0.81. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

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

Snap-On Announces Dividend

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

Insiders Place Their Bets

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP June C. Lemerand sold 1,378 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the transaction, the vice president owned 2,913 shares of the company’s stock, valued at $1,128,991.41. This represents a 32.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 75,855 shares of company stock worth $27,629,827 in the last ninety days. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap-On

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Snap-On in the fourth quarter worth $25,000. DV Equities LLC bought a new stake in shares of Snap-On during the 4th quarter valued at $25,000. GoalVest Advisory LLC purchased a new stake in Snap-On during the 4th quarter worth about $28,000. Tobam bought a new position in Snap-On in the 2nd quarter worth about $29,000. Finally, Vermillion & White Wealth Management Group LLC increased its position in shares of Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares during the period. Institutional investors own 84.88% of the company’s stock.

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.