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

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

Several research analysts recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Roth Capital reiterated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Tigress Financial lifted their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th.

Snap-On Stock Performance

Snap-On stock opened at $346.84 on Friday. The stock has a 50-day simple moving average of $339.65 and a 200 day simple moving average of $328.96. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.61 and a beta of 0.78. 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 has a 12-month low of $289.81 and a 12-month high of $365.78.

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 net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company posted $4.70 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research 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 declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s payout ratio is presently 51.18%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total value of $7,667,164.05. Following the transaction, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction on 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 owned 4,158 shares of the company’s stock, valued at $1,448,106.66. The trade was a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,257 shares of company stock valued at $11,323,424 in the last three months. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-On

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tobam bought a new position in shares of Snap-On during the second quarter worth $29,000. Ameritas Advisory Services LLC acquired a new stake in Snap-On during the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in 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 acquiring an additional 47 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Snap-On in the first quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Snap-On by 52.8% in the second 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. Institutional investors own 84.88% of the company’s stock.

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.