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

Barrington Research reaffirmed their outperform rating on shares of Snap-on (NYSE:SNA) in a research report released on Monday morning,Benzinga reports. Barrington Research currently has a $350.00 price objective on the stock.

SNA has been the topic of several other research reports. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. StockNews.com raised Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Robert W. Baird lowered their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Finally, Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on has an average rating of “Moderate Buy” and an average target price of $350.83.

Snap-on Stock Performance

Shares of SNA opened at $322.23 on Monday. Snap-on has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 2.21 and a beta of 0.78. The company has a 50-day moving average of $322.47 and a two-hundred day moving average of $338.65.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. 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 company earned $4.91 EPS. On average, equities research analysts expect that Snap-on will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Tuesday, May 20th. Snap-on’s dividend payout ratio (DPR) is presently 44.82%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenleaf Trust lifted its stake in Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after buying an additional 30 shares during the period. UMB Bank n.a. grew its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC increased its stake in shares of Snap-on by 4.5% in the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Snap-on by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after acquiring an additional 31 shares during the period. Finally, Horizon Investments LLC raised its position in shares of Snap-on by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after acquiring an additional 32 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-on Company Profile

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.