Brokerages Set Snap-On Incorporated (NYSE:SNA) PT at $357.00

Shares of Snap-On Incorporated (NYSE:SNA) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $357.00.

SNA has been the subject of a number of research analyst reports. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, September 23rd. Bank of America lifted their target price on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Robert W. Baird lifted their target price on Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Finally, Tigress Financial lifted their target price on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research report on Friday, August 29th.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNA. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snap-On in the 2nd quarter valued at $434,938,000. Auto Owners Insurance Co increased its holdings in shares of Snap-On by 35,967.2% in the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the period. GAMMA Investing LLC increased its holdings in shares of Snap-On by 65,113.6% in the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock valued at $236,919,000 after acquiring an additional 701,925 shares during the period. First Trust Advisors LP increased its holdings in shares of Snap-On by 40.7% in the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after acquiring an additional 547,527 shares during the period. Finally, Norges Bank purchased a new position in shares of Snap-On in the 2nd quarter valued at $168,010,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Price Performance

Shares of SNA stock opened at $341.94 on Monday. Snap-On has a 52-week low of $284.38 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The firm has a market capitalization of $17.84 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.38 and a beta of 0.77. The stock has a 50 day moving average price of $328.29 and a 200 day moving average price of $323.03.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $5.07 EPS. Snap-On’s quarterly revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-On will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On’s payout ratio is 45.65%.

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.