Snap-On Incorporated (NYSE:SNA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

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

Several brokerages have recently issued reports on SNA. Roth Capital restated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Tigress Financial boosted their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Robert W. Baird boosted their price target on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th.

Snap-On Trading Up 0.2%

Snap-On stock opened at $346.84 on Friday. Snap-On has a 52 week low of $289.81 and a 52 week high of $365.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The firm has a market capitalization of $18.04 billion, a PE ratio of 18.19, a PEG ratio of 2.61 and a beta of 0.78. The business’s 50-day simple moving average is $339.65 and its 200-day simple moving average is $328.96.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $4.70 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that Snap-On will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.8%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is 51.18%.

Insider Buying and Selling at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of Snap-On 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 in the company, valued at approximately $1,448,106.66. The trade was a 32.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction dated 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 completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,257 shares of company stock worth $11,323,424 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap-On

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

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.