Barrington Research Reiterates Outperform Rating for Snap-on (NYSE:SNA)

Barrington Research restated their outperform rating on shares of Snap-on (NYSE:SNA) in a research note published on Friday,Benzinga reports. Barrington Research currently has a $350.00 price objective on the stock.

Several other research analysts have also recently issued reports on SNA. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a report on Monday, March 31st. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Snap-on presently has an average rating of “Moderate Buy” and a consensus price target of $355.33.

Snap-on Trading Up 4.4 %

NYSE:SNA opened at $336.50 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The firm has a market capitalization of $17.64 billion, a P/E ratio of 17.26, a PEG ratio of 2.21 and a beta of 0.84. The company’s 50-day simple moving average is $333.58 and its 200 day simple moving average is $337.16. Snap-on has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 in the prior year, the business earned $4.75 EPS. As a group, analysts forecast that Snap-on will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is 43.90%.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 in the last three months. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap-on

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Snap-on in the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on during the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust bought a new stake in Snap-on during the 4th quarter worth approximately $40,000. Finally, TCTC Holdings LLC lifted its holdings in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

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.