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

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

A number of research firms have issued reports on SNA. Roth Mkm reiterated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Robert W. Baird raised their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Tigress Financial upped their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the completion of the transaction, the chief executive officer directly owned 826,364 shares in the company, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the sale, the vice president owned 4,158 shares in the company, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,036 shares of company stock worth $13,710,988 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap-On

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Snap-On by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the period. State Street Corp raised its holdings in Snap-On by 1.6% during the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company’s stock worth $777,603,000 after purchasing an additional 36,130 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after purchasing an additional 36,421 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Snap-On by 1.3% in the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock worth $664,149,000 after purchasing an additional 23,863 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Snap-On by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Trading Down 0.8%

Shares of SNA opened at $369.19 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. Snap-On has a 52-week low of $289.81 and a 52-week high of $375.17. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.59 and a beta of 0.80. The business’s fifty day moving average is $349.70 and its 200-day moving average is $338.39.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were given a dividend of $2.44 per share. The ex-dividend date was Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is presently 51.18%.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.