Snap-on (NYSE:SNA) Stock Price Expected to Rise, Tigress Financial Analyst Says

Snap-on (NYSE:SNA) had its price target increased by Tigress Financial from $385.00 to $390.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $346.40.

Snap-on Stock Performance

NYSE:SNA opened at $334.01 on Tuesday. The company has a market cap of $17.50 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.21 and a beta of 0.99. Snap-on has a 1 year low of $252.98 and a 1 year high of $373.89. The stock’s 50 day simple moving average is $342.48 and its two-hundred day simple moving average is $327.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the firm earned $4.75 EPS. As a group, equities analysts anticipate that Snap-on will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.56%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % 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 21,783 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,003 shares of company stock valued at $14,636,064 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Snap-on by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after acquiring an additional 19,328 shares during the period. State Street Corp raised its position in shares of Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the last quarter. First Trust Advisors LP raised its position in shares of Snap-on by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock worth $617,651,000 after purchasing an additional 411,317 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Snap-on by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after buying an additional 77,486 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Snap-on by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock worth $556,022,000 after buying an additional 27,700 shares during the last quarter. Institutional investors and hedge funds 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.