Snap-on (NYSE:SNA) Rating Reiterated by Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Snap-on (NYSE:SNA) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $325.00 price objective on the stock.

Separately, Tigress Financial reissued a buy rating and set a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $306.00.

Snap-on Trading Down 7.7 %

NYSE:SNA opened at $261.76 on Monday. The stock has a fifty day simple moving average of $283.65 and a 200 day simple moving average of $278.16. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99. Snap-on has a 1-year low of $239.08 and a 1-year high of $298.49. The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 8th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.42 earnings per share. Sell-side analysts forecast that Snap-on will post 19.22 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity

In related news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock worth $13,399,449 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Snap-on

Several large investors have recently made changes to their positions in the stock. Royal London Asset Management Ltd. boosted its position in Snap-on by 12.7% during the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after purchasing an additional 2,542 shares during the period. Caprock Group LLC acquired a new position in Snap-on in the 4th quarter valued at $1,203,000. Vision Capital Management Inc. bought a new position in Snap-on in the 4th quarter worth $2,377,000. Raymond James & Associates lifted its position in Snap-on by 3.9% during the 4th quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock worth $102,584,000 after acquiring an additional 13,225 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Snap-on during the fourth quarter valued at about $1,736,000. Institutional investors 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.