Snap-on’s (SNA) Outperform Rating Reiterated at Barrington Research

Barrington Research restated their outperform rating on shares of Snap-on (NYSE:SNA) in a research note released on Monday,Benzinga reports. They currently have a $360.00 price target on the stock.

A number of other brokerages have also recently commented on SNA. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America increased their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $347.40.

Snap-on Price Performance

Shares of SNA stock opened at $357.61 on Monday. The firm’s 50 day moving average price is $349.05 and its two-hundred day moving average price is $318.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market cap of $18.78 billion, a PE ratio of 18.41, a PEG ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.39%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s dividend payout ratio is presently 44.06%.

Insider Buying and Selling at Snap-on

In related news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,192 shares of company stock valued at $11,400,978. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its stake in shares of Snap-on by 70.5% in the fourth 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. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on in the fourth quarter valued at $28,000. Reston Wealth Management LLC bought a new position in shares of Snap-on in the 3rd quarter valued at about $30,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Snap-on in the 3rd quarter valued at about $39,000. 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.