Brokerages Set Snap-on Incorporated (NYSE:SNA) Price Target at $316.75

Shares of Snap-on Incorporated (NYSE:SNA) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $316.75.

A number of research firms have weighed in on SNA. Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Robert W. Baird decreased their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 2,562 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the sale, the senior vice president now directly owns 8,663 shares in the company, valued at approximately $2,333,379.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jesus Arregui sold 2,562 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the transaction, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock worth $14,089,523 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Snap-on

Hedge funds and other institutional investors have recently made changes to their positions in the business. Confluence Investment Management LLC acquired a new position in shares of Snap-on in the 1st quarter valued at $173,451,000. Norges Bank acquired a new position in shares of Snap-on in the fourth quarter worth about $145,665,000. Nordea Investment Management AB boosted its stake in shares of Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after acquiring an additional 298,727 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Snap-on by 25.1% during the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Snap-on by 1,416.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after buying an additional 137,920 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of SNA stock opened at $267.83 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on has a fifty-two week low of $247.68 and a fifty-two week high of $298.49. The firm has a market cap of $14.12 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.87 and a beta of 0.99. The business’s 50 day moving average price is $284.39 and its 200-day moving average price is $279.11.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $4.60 EPS. On average, equities research analysts anticipate that Snap-on will post 19.02 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s payout ratio is 39.03%.

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.