Robert W. Baird Issues Pessimistic Forecast for Snap-on (NYSE:SNA) Stock Price

Snap-on (NYSE:SNA) had its price objective cut by Robert W. Baird from $358.00 to $349.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and an average price target of $355.67.

Snap-on Stock Up 0.1 %

SNA opened at $337.31 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a fifty day moving average of $333.12 and a 200-day moving average of $337.49. Snap-on has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a market capitalization of $17.68 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $4.75 earnings per share. On average, equities analysts expect that Snap-on will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Insider Transactions at Snap-on

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

Institutional Trading of Snap-on

Several hedge funds and other institutional investors have recently made changes to their positions in SNA. UMB Bank n.a. boosted its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Snap-on in the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the fourth quarter worth about $28,000. CoreFirst Bank & Trust acquired a new position in shares of Snap-on in the 4th quarter worth approximately $40,000. Finally, TCTC Holdings LLC boosted its stake in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

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.