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 report released on Tuesday morning,Benzinga reports. They currently have a $350.00 target price on the stock.

Other analysts have also recently issued reports about the company. Robert W. Baird cut their target price on Snap-On from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Longbow Research raised Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

Snap-On Stock Down 1.8%

SNA opened at $313.32 on Tuesday. The company has a market cap of $16.38 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.28 and a beta of 0.76. The business’s 50-day moving average price is $318.08 and its 200-day moving average price is $327.95. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On has a 12 month low of $266.55 and a 12 month high of $373.90.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the previous year, the business earned $4.91 earnings per share. On average, equities analysts expect that Snap-On will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.73%. Snap-On’s dividend payout ratio (DPR) is 44.82%.

Insiders Place Their Bets

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the transaction, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% 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 23,172 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares in the company, valued at $254,104,483.50. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,815 shares of company stock worth $9,482,532. Company 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 company. Vanguard Group Inc. boosted its position in shares of Snap-On by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after purchasing an additional 19,328 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-On by 6.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after purchasing an additional 115,306 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Snap-On by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock worth $617,651,000 after purchasing an additional 411,317 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Snap-On by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock worth $556,022,000 after purchasing an additional 27,700 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Snap-On in the 2nd quarter worth approximately $434,938,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.