Brokerages Set Snap-on Incorporated (NYSE:SNA) PT at $316.75

Snap-on Incorporated (NYSE:SNA) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $316.75.

Several equities research analysts have recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research report on Wednesday.

Snap-on Stock Down 2.1 %

Shares of NYSE SNA opened at $270.28 on Tuesday. The stock has a market capitalization of $14.25 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.91 and a beta of 1.00. Snap-on has a 12-month low of $247.68 and a 12-month high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $282.17 and its 200-day moving average price is $281.24.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted $4.60 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts anticipate that Snap-on will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Buying and Selling at Snap-on

In related news, SVP Jesus Arregui sold 2,562 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the transaction, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at approximately $2,333,379.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the transaction, the senior vice president now owns 8,663 shares of the company’s stock, valued at approximately $2,333,379.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the transaction, the chief financial officer now owns 97,699 shares in the company, valued at $27,048,945.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,677 shares of company stock valued at $14,870,348. 4.10% of the stock is owned by company insiders.

Institutional Trading of Snap-on

Several hedge funds have recently made changes to their positions in the business. Atria Investments Inc boosted its position in shares of Snap-on by 55.6% in the 1st quarter. Atria Investments Inc now owns 6,604 shares of the company’s stock valued at $1,956,000 after purchasing an additional 2,359 shares during the period. Swedbank AB acquired a new stake in shares of Snap-on during the first quarter worth about $14,968,000. Delphi Management Inc. MA raised its stake in Snap-on by 4.8% during the 1st quarter. Delphi Management Inc. MA now owns 5,720 shares of the company’s stock valued at $1,694,000 after acquiring an additional 263 shares during the last quarter. Wahed Invest LLC lifted its position in Snap-on by 10.9% during the 1st quarter. Wahed Invest LLC now owns 979 shares of the company’s stock worth $290,000 after acquiring an additional 96 shares during the period. Finally, Zimmer Partners LP acquired a new position in shares of Snap-on in the first quarter valued at approximately $7,320,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.