Snap-on (NYSE:SNA) Given “Reiterates” Rating at 888

888 restated their reiterates rating on shares of Snap-on (NYSE:SNA – Get Rating) in a research note published on Wednesday morning, Benzinga reports.

Other analysts also recently issued research reports about the stock. StockNews.com began coverage on shares of Snap-on in a research report on Thursday, May 18th. They set a buy rating for the company. Tigress Financial reaffirmed a buy rating and issued a $302.00 price objective (up previously from $298.00) on shares of Snap-on in a research report on Thursday, March 2nd. Robert W. Baird increased their price objective on shares of Snap-on from $265.00 to $270.00 and gave the company a neutral rating in a research report on Friday, April 21st. Roth Capital raised shares of Snap-on from a neutral rating to a buy rating in a research report on Thursday, May 18th. Finally, 92 Resources reaffirmed a reiterates rating on shares of Snap-on in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $260.57.

Snap-on Trading Up 0.6 %

Shares of SNA stock traded up $1.59 during trading hours on Wednesday, hitting $257.35. 191,769 shares of the company were exchanged, compared to its average volume of 306,285. The firm has a market cap of $13.62 billion, a PE ratio of 14.76, a PEG ratio of 2.07 and a beta of 1.09. Snap-on has a 1 year low of $190.08 and a 1 year high of $265.02. The company has a quick ratio of 2.43, a current ratio of 3.48 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average of $248.45 and a 200 day moving average of $243.23.

Snap-on (NYSE:SNA – Get Rating) last posted its earnings results on Thursday, April 20th. The company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $0.46. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. Snap-on had a net margin of 20.60% and a return on equity of 21.17%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.00 EPS. Analysts expect that Snap-on will post 17.74 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, May 18th. Snap-on’s dividend payout ratio (DPR) is currently 37.18%.

Insider Activity

In related news, VP Richard Thomas Miller sold 300 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $263.05, for a total transaction of $78,915.00. Following the transaction, the vice president now directly owns 2,042 shares in the company, valued at $537,148.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Richard Thomas Miller sold 300 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $263.05, for a total transaction of $78,915.00. Following the transaction, the vice president now directly owns 2,042 shares in the company, valued at $537,148.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen L. Daniel sold 2,046 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $245.38, for a total value of $502,047.48. Following the transaction, the director now owns 8,028 shares in the company, valued at $1,969,910.64. The disclosure for this sale can be found here. In the last three months, insiders sold 56,884 shares of company stock worth $14,194,715. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap-on

A number of hedge funds have recently added to or reduced their stakes in SNA. Vanguard Group Inc. increased its holdings in shares of Snap-on by 1.4% during the third quarter. Vanguard Group Inc. now owns 6,564,799 shares of the company’s stock valued at $1,321,822,000 after purchasing an additional 92,450 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Snap-on by 968.6% during the first quarter. Envestnet Asset Management Inc. now owns 5,349,981 shares of the company’s stock valued at $134,881,000 after purchasing an additional 4,849,325 shares during the period. BlackRock Inc. increased its holdings in shares of Snap-on by 0.3% during the third quarter. BlackRock Inc. now owns 4,653,001 shares of the company’s stock valued at $936,881,000 after purchasing an additional 13,797 shares during the period. Geode Capital Management LLC grew its holdings in Snap-on by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,387,697 shares of the company’s stock worth $316,627,000 after acquiring an additional 15,479 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Snap-on by 9.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,269,093 shares of the company’s stock worth $289,975,000 after acquiring an additional 114,488 shares during the period. 85.19% of the stock is currently owned by institutional investors.

About Snap-on

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Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.