Snap-on (NYSE:SNA) Given New $282.00 Price Target at Robert W. Baird

Snap-on (NYSE:SNA) had its price target lowered by Robert W. Baird from $295.00 to $282.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also issued reports on SNA. Tigress Financial reissued a buy rating and set a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Barrington Research reiterated an outperform rating and issued a $325.00 target price on shares of Snap-on in a report on Monday, April 15th. Finally, Roth Mkm restated a buy rating and set a $324.00 price target on shares of Snap-on in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on presently has a consensus rating of Hold and a consensus target price of $301.40.

Snap-on Price Performance

SNA opened at $268.80 on Friday. The company has a fifty day simple moving average of $283.78 and a 200 day simple moving average of $278.27. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.87 and a beta of 0.99. Snap-on has a twelve month low of $245.73 and a twelve month high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $4.60 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts expect that Snap-on will post 19.22 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is currently 39.03%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total value of $2,045,532.68. Following the completion of the sale, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at approximately $26,014,052.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the completion of the transaction, the chief financial officer now directly owns 95,661 shares in the company, valued at approximately $26,014,052.34. The disclosure for this sale can be found here. Insiders sold a total of 47,368 shares of company stock valued at $13,399,449 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Snap-on

Several hedge funds have recently bought and sold shares of SNA. Confluence Investment Management LLC acquired a new stake in shares of Snap-on in the first quarter valued at approximately $173,451,000. Norges Bank acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $145,665,000. Nordea Investment Management AB increased its holdings in Snap-on by 52.8% during the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after buying an additional 298,727 shares during the last quarter. Wellington Management Group LLP increased its holdings in Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after buying an additional 237,843 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Snap-on by 25.1% during the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after buying an additional 147,997 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

About Snap-on

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.