Snap-on (NYSE:SNA) Price Target Raised to $390.00

Snap-on (NYSE:SNA) had its price objective hoisted by Tigress Financial from $385.00 to $390.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Tigress Financial currently has a buy rating on the stock.

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

Snap-on Trading Up 0.1 %

Shares of NYSE:SNA opened at $334.01 on Tuesday. Snap-on has a 1 year low of $252.98 and a 1 year high of $373.89. The stock’s fifty day moving average price is $342.48 and its 200-day moving average price is $327.12. The company has a market cap of $17.50 billion, a P/E ratio of 17.13, a PEG ratio of 2.21 and a beta of 0.99. 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $4.75 EPS. Sell-side analysts expect that Snap-on will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.56%. Snap-on’s payout ratio is presently 43.90%.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $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 42,003 shares of company stock worth $14,636,064 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Snap-on

A number of hedge funds and other institutional investors have recently modified their holdings of SNA. Aurora Investment Counsel lifted its position in shares of Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after acquiring an additional 30 shares in the last quarter. Greenleaf Trust boosted its stake in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. grew its holdings in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after buying an additional 31 shares during the last quarter. Finally, New York Life Investment Management LLC raised its position in shares of Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after buying an additional 31 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.