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

Snap-On Incorporated (NYSE:SNA) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $365.00.

SNA has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Roth Mkm reiterated a “buy” rating and set a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Tigress Financial increased their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Robert W. Baird increased their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th.

Snap-On Stock Down 1.0%

Shares of NYSE:SNA opened at $366.29 on Friday. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.60 and a beta of 0.80. Snap-On has a 12 month low of $289.81 and a 12 month high of $375.28. 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 company has a 50-day moving average price of $352.79 and a 200 day moving average price of $339.64.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were paid a dividend of $2.44 per share. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, November 21st. Snap-On’s payout ratio is presently 51.18%.

Insider Activity at Snap-On

In related news, SVP Jesus Arregui sold 3,831 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. This trade represents a 59.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the completion of the sale, the chief financial officer directly owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. This trade represents a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,036 shares of company stock valued at $13,710,988. Company 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 SNA. Generali Asset Management SPA SGR purchased a new position in Snap-On in the 3rd quarter worth approximately $2,068,000. Norges Bank acquired a new stake in shares of Snap-On in the second quarter valued at approximately $168,010,000. First Citizens Bank & Trust Co. lifted its position in Snap-On by 3.6% during the third quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company’s stock worth $13,910,000 after buying an additional 1,404 shares in the last quarter. Vanguard Group Inc. boosted its stake in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after buying an additional 80,422 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Snap-On by 3.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after buying an additional 36,964 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

About Snap-On

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.