Snap-On (NYSE:SNA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Snap-On (NYSE:SNA) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Other research analysts have also issued research reports about the company. Bank of America boosted their price objective on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Robert W. Baird boosted their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Roth Capital reissued a “buy” rating and set a $385.00 price objective on shares of Snap-On in a report on Friday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $363.57.

Snap-On Stock Up 0.3%

Shares of NYSE SNA opened at $340.76 on Friday. Snap-On has a 52 week low of $289.81 and a 52 week high of $373.89. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a market cap of $17.72 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.36 and a beta of 0.78. The business has a 50-day simple moving average of $333.16 and a two-hundred day simple moving average of $323.86.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $4.70 earnings per share. Snap-On’s revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s payout ratio is 44.89%.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 over the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-On

A number of large investors have recently bought and sold shares of the stock. Hennessy Advisors Inc. increased its stake in Snap-On by 1.3% in the 3rd quarter. Hennessy Advisors Inc. now owns 7,700 shares of the company’s stock worth $2,668,000 after purchasing an additional 100 shares during the period. 3Chopt Investment Partners LLC purchased a new position in Snap-On in the 3rd quarter worth approximately $227,000. Moody Lynn & Lieberson LLC increased its stake in shares of Snap-On by 2.9% during the third quarter. Moody Lynn & Lieberson LLC now owns 1,640 shares of the company’s stock valued at $568,000 after buying an additional 46 shares during the period. Diversified Trust Co increased its stake in shares of Snap-On by 7.4% during the third quarter. Diversified Trust Co now owns 918 shares of the company’s stock valued at $318,000 after buying an additional 63 shares during the period. Finally, YANKCOM Partnership purchased a new position in shares of Snap-On during the third quarter valued at approximately $427,000. 84.88% of the stock is owned by hedge funds and other 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.