A number of other equities research analysts also recently weighed in on the company. Barrington Research reissued a buy rating on shares of Snap-on in a report on Thursday, March 8th. Zacks Investment Research raised Snap-on from a hold rating to a buy rating and set a $178.00 target price for the company in a report on Wednesday, February 14th. Finally, Robert W. Baird dropped their target price on Snap-on from $220.00 to $211.00 and set an outperform rating for the company in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Snap-on presently has a consensus rating of Buy and a consensus target price of $192.00.
Shares of Snap-on (SNA) opened at $151.47 on Monday. Snap-on has a twelve month low of $140.83 and a twelve month high of $185.47. The company has a current ratio of 1.78, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $8,699.87, a price-to-earnings ratio of 15.14, a PEG ratio of 1.29 and a beta of 1.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 1st. Snap-on’s dividend payout ratio is currently 34.45%.
In related news, CEO Nicholas T. Pinchuk sold 20,680 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas L. Kassouf sold 96,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $160.40, for a total value of $15,398,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,355 shares of company stock valued at $24,058,960. 3.70% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of SNA. Canada Pension Plan Investment Board raised its stake in Snap-on by 42,142.9% in the third quarter. Canada Pension Plan Investment Board now owns 5,914 shares of the company’s stock valued at $881,000 after purchasing an additional 5,900 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Snap-on by 8.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,040 shares of the company’s stock valued at $1,347,000 after purchasing an additional 710 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Snap-on by 77.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,839 shares of the company’s stock valued at $423,000 after purchasing an additional 1,239 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Snap-on by 2.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,261 shares of the company’s stock valued at $2,125,000 after purchasing an additional 321 shares in the last quarter. Finally, Swiss National Bank grew its position in Snap-on by 1.0% in the third quarter. Swiss National Bank now owns 213,500 shares of the company’s stock valued at $31,814,000 after acquiring an additional 2,100 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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