Snap-On Incorporated (NYSE:SNA) Receives $357.00 Average PT from Analysts

Key Points

• Snap-On Incorporated has received an average consensus rating of "Moderate Buy" from six brokerages, with one sell, one hold, and four buy recommendations.
• The company's stock price target among analysts varies, with estimates ranging from $265.00 to $395.00, reflecting differing perspectives on Snap-On's future performance.
• Snap-On has recently paid a quarterly dividend of $2.14 per share, yielding 2.5% annually, with a payout ratio of approximately 45.65%.

Snap-On Incorporated (NYSE:SNA - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $357.00.

Several research analysts recently weighed in on SNA shares. Bank of America upped their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Robert W. Baird boosted their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th.

Snap-On Stock Up 0.1%

Shares of Snap-On stock traded up $0.49 during trading on Monday, reaching $337.73. The company's stock had a trading volume of 244,397 shares, compared to its average volume of 279,457. The company has a 50-day simple moving average of $327.16 and a two-hundred day simple moving average of $322.79. Snap-On has a 1-year low of $282.71 and a 1-year high of $373.89. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.35 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted $5.07 earnings per share. The company's quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast that Snap-On will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 over the last three months. 3.90% of the stock is owned by insiders.

Institutional Trading of Snap-On

Several large investors have recently made changes to their positions in the business. Alpine Bank Wealth Management purchased a new position in Snap-On in the 1st quarter valued at approximately $25,000. Tobam acquired a new position in Snap-On in the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On in the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC raised its stake in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company's stock valued at $30,000 after purchasing an additional 47 shares during the period. Finally, Golden State Wealth Management LLC increased its position in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.