Snap-On (NYSE:SNA) Reaches New 12-Month High – Should You Buy?

Snap-On Incorporated (NYSE:SNA)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $375.28 and last traded at $368.4850, with a volume of 60676 shares traded. The stock had previously closed at $370.07.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SNA shares. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Roth Mkm reiterated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Tigress Financial increased their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

Snap-On Trading Down 0.2%

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 business has a 50 day moving average price of $352.09 and a 200-day moving average price of $339.45. The company has a market cap of $19.21 billion, a P/E ratio of 19.37, a PEG ratio of 2.58 and a beta of 0.80.

Snap-On Increases Dividend

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

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,779 shares of the business’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 transaction of $2,387,563.80. Following the transaction, the chief financial officer directly owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. The trade was a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total value of $7,667,164.05. Following the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at $280,261,350.60. This represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 40,036 shares of company stock worth $13,710,988. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-On

Several large investors have recently modified their holdings of SNA. Kennebec Savings Bank raised its holdings in Snap-On by 3.6% in the 4th quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after acquiring an additional 27 shares during the period. BankPlus Trust Department lifted its holdings in Snap-On by 5.9% during the 3rd quarter. BankPlus Trust Department now owns 541 shares of the company’s stock worth $187,000 after purchasing an additional 30 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Snap-On by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock valued at $2,546,000 after purchasing an additional 31 shares during the period. CWM LLC boosted its stake in Snap-On by 0.6% in the 4th quarter. CWM LLC now owns 5,517 shares of the company’s stock valued at $1,901,000 after purchasing an additional 31 shares during the period. Finally, Cardinal Capital Management grew its holdings in Snap-On by 0.3% in the 3rd quarter. Cardinal Capital Management now owns 11,197 shares of the company’s stock valued at $3,880,000 after buying an additional 32 shares in the last quarter. 84.88% of the stock is 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.