Snap-On (NYSE:SNA) Sets New 52-Week High – Here’s What Happened

Snap-On Incorporated (NYSE:SNA) reached a new 52-week high on Friday . The company traded as high as $366.17 and last traded at $364.8250, with a volume of 62684 shares changing hands. The stock had previously closed at $361.31.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNA. Roth Capital restated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Tigress Financial raised their price target 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. Finally, Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Price Performance

The company has a market cap of $18.84 billion, a PE ratio of 19.00, a PEG ratio of 2.54 and a beta of 0.80. The firm’s 50-day moving average is $344.77 and its 200-day moving average is $334.95. The company has a quick ratio of 3.37, a current ratio of 4.40 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 for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $4.70 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were paid a $2.44 dividend. The ex-dividend date of this dividend 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 yield of 2.7%. Snap-On’s payout ratio is currently 51.18%.

Insider Transactions at Snap-On

In related news, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the transaction, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. This trade represents a 59.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the vice president directly owned 4,158 shares of the company’s stock, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,036 shares of company stock worth $13,710,988 in the last ninety days. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap-On

A number of institutional investors and hedge funds have recently made changes to their positions in SNA. GoalVest Advisory LLC bought a new stake in shares of Snap-On in the 4th quarter worth approximately $28,000. Tobam bought a new stake in Snap-On in the second quarter worth $29,000. Ameritas Advisory Services LLC bought a new stake in Snap-On in the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of 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 in the last quarter. Institutional investors own 84.88% of the company’s stock.

About Snap-On

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.