Analysts Set Snap-On Incorporated (NYSE:SNA) PT at $365.00

Shares of Snap-On Incorporated (NYSE:SNA) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $365.00.

A number of brokerages recently commented on SNA. Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Robert W. Baird upped their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Tigress Financial upped their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $891,093.76. This trade represents a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the completion of the transaction, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,257 shares of company stock worth $11,323,424 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Snap-On

A number of large investors have recently made changes to their positions in SNA. Tobam bought a new position in Snap-On during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new position in shares of Snap-On during the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Snap-On in the first quarter worth $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after acquiring an additional 38 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Trading Up 1.7%

Shares of SNA opened at $348.85 on Friday. The stock has a market capitalization of $18.14 billion, a P/E ratio of 18.29, a PEG ratio of 2.59 and a beta of 0.78. Snap-On has a twelve month low of $289.81 and a twelve month high of $365.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $339.69 and a two-hundred day simple moving average of $329.51.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.70 earnings per share. On average, research analysts anticipate that Snap-On will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were given a $2.44 dividend. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend was Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.8%. Snap-On’s payout ratio is currently 51.18%.

About Snap-On

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.