Snap-on Incorporated (NYSE:SNA) Receives Consensus Rating of “Hold” from Brokerages

Snap-on Incorporated (NYSE:SNA) has received an average rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $346.40.

A number of equities analysts recently weighed in on SNA shares. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Monday. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Finally, Tigress Financial increased their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th.

Snap-on Price Performance

Shares of NYSE:SNA opened at $329.09 on Monday. The business has a fifty day moving average price of $340.12 and a 200-day moving average price of $333.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market capitalization of $17.25 billion, a PE ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99. Snap-on has a 1-year low of $252.98 and a 1-year high of $373.90.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the company posted $4.75 earnings per share. As a group, equities analysts expect that Snap-on will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.60%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by insiders.

Institutional Trading of Snap-on

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after buying an additional 19,328 shares during the period. State Street Corp increased its holdings in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after acquiring an additional 10,645 shares in the last quarter. First Trust Advisors LP raised its stake in Snap-on by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock worth $617,651,000 after acquiring an additional 411,317 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after purchasing an additional 77,486 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Snap-on by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock worth $556,022,000 after purchasing an additional 27,700 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Company Profile

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.