Snap-On Incorporated (NYSE:SNA) Receives $365.00 Consensus Price Target from Brokerages

Shares of Snap-On Incorporated (NYSE:SNA) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $365.00.

Several research firms have recently commented on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Roth Mkm reiterated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Robert W. Baird boosted their target price on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th.

Snap-On Price Performance

SNA stock opened at $368.03 on Friday. The company has a market cap of $19.14 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.60 and a beta of 0.80. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $351.30 and a two-hundred day moving average price of $339.24. Snap-On has a 12-month low of $289.81 and a 12-month high of $375.17.

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were issued a $2.44 dividend. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend was Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This represents a 59.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,779 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total value of $2,387,563.80. Following the completion of the sale, the chief financial officer owned 111,888 shares of the company’s stock, valued at $39,406,953.60. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is currently owned by insiders.

Institutional Trading of Snap-On

A number of large investors have recently added to or reduced their stakes in SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Snap-On during the 4th quarter worth approximately $25,000. GoalVest Advisory LLC purchased a new position in shares of Snap-On during the fourth quarter valued at $28,000. Tobam acquired a new position in Snap-On during the second quarter valued at $29,000. Ameritas Advisory Services LLC purchased a new stake in Snap-On in the 2nd quarter worth about $30,000. Finally, Vermillion & White Wealth Management Group LLC boosted its position in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the period. 84.88% of the stock is currently owned by institutional investors.

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.