Snap-On Incorporated (NYSE:SNA) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Snap-On Incorporated (NYSE:SNA - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $350.83.

Several research analysts recently issued reports on the company. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Robert W. Baird reduced their target price on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th.

Snap-On Trading Down 0.0%

SNA opened at $317.10 on Wednesday. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.26 and a beta of 0.76. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On has a 12 month low of $255.63 and a 12 month high of $373.90. The stock has a fifty day moving average price of $317.67 and a 200-day moving average price of $328.90.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $4.91 earnings per share. As a group, equities research analysts anticipate that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were paid a dividend of $2.14 per share. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.70%. Snap-On's payout ratio is presently 44.82%.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer owned 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares in the company, valued at $254,104,483.50. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,815 shares of company stock worth $9,482,532. 3.90% of the stock is currently owned by insiders.

Institutional Trading of Snap-On

A number of hedge funds have recently modified their holdings of SNA. Alpine Bank Wealth Management purchased a new stake in shares of Snap-On in the first quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in Snap-On during the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its position in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after purchasing an additional 72 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new position in Snap-On during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Company Profile

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.

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