Barrington Research Reiterates “Outperform” Rating for Snap-on (NYSE:SNA)

Barrington Research reissued their outperform rating on shares of Snap-on (NYSE:SNA) in a research note released on Monday morning, Benzinga reports. They currently have a $325.00 target price on the stock.

Separately, Tigress Financial reaffirmed a buy rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $306.00.

Snap-on Stock Performance

Shares of SNA opened at $285.83 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. Snap-on has a twelve month low of $238.90 and a twelve month high of $298.49. The firm’s 50 day moving average price is $284.18 and its two-hundred day moving average price is $278.04. The firm has a market cap of $15.10 billion, a P/E ratio of 15.24, a PEG ratio of 2.07 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 8th. The company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $4.42 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. On average, analysts forecast that Snap-on will post 19.22 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a $1.86 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.60%. Snap-on’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold 47,368 shares of company stock worth $13,399,449 over the last ninety days. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Snap-on

A number of institutional investors have recently added to or reduced their stakes in SNA. Confluence Investment Management LLC acquired a new position in shares of Snap-on in the first quarter valued at $173,451,000. Norges Bank acquired a new position in shares of Snap-on in the fourth quarter valued at $145,665,000. Nordea Investment Management AB increased its holdings in shares of Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after purchasing an additional 298,727 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Snap-on by 7,194.3% in the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock valued at $49,551,000 after purchasing an additional 237,843 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after purchasing an additional 147,997 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.