Snap-On Incorporated (NYSE:SNA) Stock Rated “Moderate Buy” by Wall Street Brokerages

Snap-On Incorporated (NYSE:SNA) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $429.20.

Several research analysts have recently commented on SNA shares. Robert W. Baird set a $415.00 price target on Snap-On in a report on Friday, July 24th. Roth Capital restated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial boosted their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Finally, Barclays lowered their price objective on shares of Snap-On from $450.00 to $435.00 and set an “overweight” rating for the company in a research note on Tuesday.

Snap-On Stock Performance

NYSE:SNA opened at $359.01 on Friday. The company has a market cap of $18.57 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.39 and a beta of 0.71. Snap-On has a twelve month low of $320.80 and a twelve month high of $423.02. The company’s 50-day moving average price is $385.89 and its 200-day moving average price is $384.49. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. Snap-On’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.72 EPS. On average, sell-side analysts forecast that Snap-On will post 19.76 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a dividend of $2.44 per share. The ex-dividend date was Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.7%. Snap-On’s dividend payout ratio is 49.77%.

Insider Buying and Selling

In other news, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the completion of the transaction, the vice president owned 1,526 shares in the company, valued at approximately $610,400. This trade represents a 34.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the sale, the chief financial officer owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 38,720 shares of company stock worth $15,688,358. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap-On

A number of large investors have recently modified their holdings of SNA. BlackRock Inc. acquired a new position in shares of Snap-On during the 2nd quarter worth about $1,715,363,000. State Street Corp raised its position in shares of Snap-On by 2.9% during the 2nd quarter. State Street Corp now owns 2,356,671 shares of the company’s stock worth $948,324,000 after acquiring an additional 66,754 shares in the last quarter. First Trust Advisors LP lifted its stake in Snap-On by 3.3% during the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock worth $738,473,000 after purchasing an additional 65,521 shares during the last quarter. Auto Owners Insurance Co boosted its holdings in Snap-On by 34,360.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after purchasing an additional 1,022,210 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Snap-On by 0.4% in the first quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock valued at $363,037,000 after purchasing an additional 3,770 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, and diagnostic solutions. The company serves customers in the automotive repair, heavy-duty transportation, aviation, marine, railroad, agriculture, government, and other industrial sectors. Its offerings include hand and power tools, tool storage, shop equipment, diagnostic systems, repair information, and software.

Founded in 1920, Snap-on began by developing interchangeable socket sets for professional mechanics.