Snap-On (NYSE:SNA) Reaches New 12-Month High – Time to Buy?

Snap-On Incorporated (NYSE:SNA) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $366.17 and last traded at $364.8250, with a volume of 62684 shares trading hands. The stock had previously closed at $361.31.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SNA shares. Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Robert W. Baird upped their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Stock Up 0.3%

The firm has a market capitalization of $18.84 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 2.47 and a beta of 0.80. The firm’s 50-day moving average is $344.24 and its 200 day moving average is $334.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted $4.70 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were issued a dividend of $2.44 per share. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date was Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s payout ratio is currently 51.18%.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the sale, the senior vice president owned 2,642 shares in the company, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the completion of the transaction, the chief financial officer directly owned 111,888 shares of the company’s stock, valued at $39,406,953.60. The trade was a 5.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 40,036 shares of company stock worth $13,710,988. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap-On

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Capital Management LLC lifted its stake in Snap-On by 5.3% in the first quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after buying an additional 63 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Snap-On in the 1st quarter worth about $1,986,000. Ascent Group LLC bought a new stake in Snap-On in the 1st quarter valued at about $421,000. Caxton Associates LLP acquired a new position in Snap-On during the 1st quarter valued at about $946,000. Finally, United Services Automobile Association bought a new position in Snap-On in the 1st quarter worth about $389,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.