Snap-On Incorporated (NYSE:SNA) Receives $381.20 Consensus PT from Brokerages

Shares of Snap-On Incorporated (NYSE:SNA) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $381.20.

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Robert W. Baird upped their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial upped their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Roth Mkm restated a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th.

Snap-On Trading Up 0.8%

Shares of NYSE SNA opened at $373.59 on Tuesday. The stock’s 50 day moving average price is $373.96 and its two-hundred day moving average price is $361.25. Snap-On has a 52-week low of $301.82 and a 52-week high of $400.88. The stock has a market capitalization of $19.35 billion, a P/E ratio of 19.29, a PEG ratio of 2.62 and a beta of 0.75. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $4.51 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts anticipate that Snap-On will post 19.75 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio is 50.39%.

Snap-On declared that its board has approved a stock buyback plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president directly owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This represents a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 55,046 shares of company stock valued at $20,921,434. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snap-On

Institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Snap-On during the fourth quarter valued at approximately $25,000. DV Equities LLC bought a new position in shares of Snap-On during the fourth quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new position in shares of Snap-On during the fourth quarter valued at approximately $28,000. Montag A & Associates Inc. grew its holdings in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

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.