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

Shares of Snap-On Incorporated (NYSE:SNA) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $365.00.

SNA has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Robert W. Baird boosted their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Roth Capital reaffirmed a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Finally, Tigress Financial increased their target price on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the sale, the chief financial officer directly owned 111,888 shares in the company, valued at approximately $39,406,953.60. The trade was a 5.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’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 owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,036 shares of company stock valued at $13,710,988 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap-On

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after acquiring an additional 80,422 shares in the last quarter. State Street Corp grew its position in shares of Snap-On by 1.6% during the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after purchasing an additional 36,130 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after purchasing an additional 36,421 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Snap-On by 1.3% in the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock worth $664,149,000 after purchasing an additional 23,863 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snap-On in the second quarter worth $434,938,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Trading Down 0.3%

Shares of Snap-On stock opened at $349.93 on Wednesday. The company has a market capitalization of $18.20 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The stock has a fifty day simple moving average of $342.90 and a 200 day simple moving average of $332.57. Snap-On has a 12-month low of $289.81 and a 12-month high of $365.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. The firm had revenue of $1.19 billion for 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.70 EPS. On average, sell-side analysts anticipate that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

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

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.