Snap-on (NYSE:SNA) Price Target Cut to $320.00 by Analysts at Robert W. Baird

Snap-on (NYSE:SNA - Free Report) had its price target cut by Robert W. Baird from $349.00 to $320.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Tigress Financial upped their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. StockNews.com lowered Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Finally, Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of "Hold" and a consensus price target of $350.83.

Snap-on Trading Down 0.7 %

Shares of SNA stock traded down $2.10 during trading on Monday, hitting $308.64. 262,956 shares of the stock traded hands, compared to its average volume of 357,221. The firm has a market capitalization of $16.18 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The firm's fifty day moving average price is $328.13 and its 200-day moving average price is $338.23.

Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the business earned $4.91 EPS. As a group, research analysts forecast that Snap-on will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, May 20th. Snap-on's dividend payout ratio (DPR) is currently 44.82%.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock valued at $12,116,859 in the last three months. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap-on

A number of hedge funds and other institutional investors have recently made changes to their positions in SNA. Bleakley Financial Group LLC purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $512,000. Vest Financial LLC lifted its holdings in shares of Snap-on by 2.4% during the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after purchasing an additional 2,460 shares during the period. World Investment Advisors LLC purchased a new position in Snap-on in the 3rd quarter valued at $19,291,000. Avanza Fonder AB acquired a new position in Snap-on in the 4th quarter valued at $1,936,000. Finally, Empirical Finance LLC raised its position in Snap-on by 45.8% during the 4th quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock worth $2,005,000 after buying an additional 1,856 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

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.