Snap-on Incorporated (NYSE:SNA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Snap-on Incorporated (NYSE:SNA) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $350.83.

Several analysts have recently issued reports on the stock. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Robert W. Baird dropped their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday. Finally, StockNews.com raised shares of Snap-on from a “hold” rating to a “buy” rating in a research report on Friday.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,113 shares of company stock worth $11,752,590 in the last 90 days. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap-on

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bleakley Financial Group LLC bought a new position in Snap-on during the 4th quarter valued at $512,000. Vest Financial LLC raised its stake in shares of Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after purchasing an additional 2,460 shares in the last quarter. Ethic Inc. lifted its position in shares of Snap-on by 18.6% during the fourth quarter. Ethic Inc. now owns 9,212 shares of the company’s stock worth $3,127,000 after purchasing an additional 1,445 shares during the last quarter. Empirical Finance LLC grew its stake in Snap-on by 45.8% in the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company’s stock worth $2,005,000 after purchasing an additional 1,856 shares in the last quarter. Finally, Advyzon Investment Management LLC bought a new stake in Snap-on in the fourth quarter valued at about $272,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

NYSE SNA opened at $331.84 on Tuesday. The business’s 50-day moving average price is $322.59 and its 200 day moving average price is $338.85. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a market capitalization of $17.35 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned $4.91 earnings per share. On average, research analysts predict that Snap-on will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be issued a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.58%. Snap-on’s payout ratio is currently 44.82%.

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.