Snap-On Incorporated (NYSE:SNA) Stock Has Average Price Target of $426.20

Key Points

• Analyst sentiment is moderately bullish: Five of six analysts rate Snap-On a buy, while one recommends holding. The average 12-month price target is $426.20, with recent targets ranging from $415 to $485.
• Snap-On exceeded quarterly expectations, reporting $4.96 in earnings per share and $1.24 billion in revenue, up 4.7% year over year. The company also pays an annualized dividend of $9.76 per share, yielding approximately 2.7%.
• Institutional investors own 84.88% of Snap-On, while insiders own 3.80%; company insiders sold 38,720 shares worth approximately $15.7 million during the last quarter.

Shares of Snap-On Incorporated (NYSE:SNA - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $426.20.

SNA has been the subject of a number of research reports. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Friday, July 17th. Roth Capital reiterated a "buy" rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial increased their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Robert W. Baird set a $415.00 price target on shares of Snap-On in a report on Friday, July 24th.

Snap-On Price Performance

Shares of NYSE:SNA opened at $367.80 on Friday. The company's fifty day moving average is $390.55 and its two-hundred day moving average is $384.44. The company has a market cap of $19.03 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. Snap-On has a 12-month low of $320.80 and a 12-month high of $423.02. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.Snap-On's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.72 earnings per share. Equities analysts expect that Snap-On will post 19.76 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On's dividend payout ratio (DPR) is 49.77%.

Insider Activity at Snap-On

In other news, CFO Aldo Pagliari sold 5,531 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the transaction, the chief financial officer directly owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president directly owned 1,526 shares in the company, valued at $610,400. This trade represents a 34.39% 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. In the last quarter, insiders have sold 38,720 shares of company stock valued at $15,688,358. Insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Snap-On

A number of hedge funds and other institutional investors have recently made changes to their positions in SNA. Western Wealth Management LLC acquired a new position in Snap-On in the first quarter worth approximately $29,000. Manchester Capital Management LLC lifted its stake in Snap-On by 152.4% in the fourth quarter. Manchester Capital Management LLC now owns 106 shares of the company's stock valued at $37,000 after acquiring an additional 64 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Snap-On in the second quarter worth approximately $45,000. Elevation Wealth Partners LLC grew its position in Snap-On by 773.3% in the second quarter. Elevation Wealth Partners LLC now owns 131 shares of the company's stock worth $53,000 after acquiring an additional 116 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Snap-On during the 4th quarter worth $45,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

About Snap-On

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, and diagnostic solutions. The company serves customers in the automotive repair, heavy-duty transportation, aviation, marine, railroad, agriculture, government, and other industrial sectors. Its offerings include hand and power tools, tool storage, shop equipment, diagnostic systems, repair information, and software.

Founded in 1920, Snap-on began by developing interchangeable socket sets for professional mechanics.

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