Snap-on Incorporated (NYSE:SNA) Receives $346.40 Average Price Target from Analysts

Snap-on Incorporated (NYSE:SNA) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $355.33.

A number of research analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Longbow Research upgraded shares of 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. Finally, Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on 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 in the company, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 in the last ninety days. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap-on

A number of institutional investors and hedge funds have recently modified their holdings of SNA. Bleakley Financial Group LLC purchased a new stake in Snap-on during the 4th quarter worth about $512,000. Vest Financial LLC boosted its holdings in Snap-on by 2.4% in the fourth 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. Sanctuary Advisors LLC increased its stake in Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Snap-on during the third quarter worth approximately $19,291,000. Finally, Avanza Fonder AB purchased a new stake in shares of Snap-on during the 4th quarter worth approximately $1,936,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Up 0.8 %

SNA stock opened at $342.26 on Monday. The firm has a market cap of $17.94 billion, a PE ratio of 17.55, a PEG ratio of 2.21 and a beta of 0.99. Snap-on has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The firm’s 50 day moving average price is $339.41 and its 200-day moving average price is $334.80.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the firm posted $4.75 EPS. On average, equities research analysts anticipate that Snap-on will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

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.