Snap-On Incorporated (NYSE:SNA) Stock Has Consensus Target Price of $434.00

Snap-On Incorporated (NYSE:SNA) has earned an average rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $434.00.

SNA has been the subject of several recent research reports. Barclays dropped their price objective on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird set a $385.00 price target on shares of Snap-On in a research report on Friday, October 23rd. Roth Capital reissued a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Thursday, October 15th. Finally, Tigress Financial increased their price objective on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a report on Friday, July 31st.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 22,889 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the transaction, the chief executive officer owned 867,779 shares of the company’s stock, valued at $346,842,588.51. The trade was a 2.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the transaction, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at approximately $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 29,220 shares of company stock worth $11,704,411. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Snap-On during the 2nd quarter worth about $1,715,363,000. State Street Corp grew its holdings in shares of Snap-On by 2.9% in the 2nd quarter. State Street Corp now owns 2,356,671 shares of the company’s stock valued at $948,324,000 after acquiring an additional 66,754 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Snap-On by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after acquiring an additional 65,521 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Snap-On by 0.4% in the 1st quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock valued at $363,037,000 after acquiring an additional 3,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Snap-On by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock valued at $319,955,000 after acquiring an additional 17,337 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Up 0.9%

NYSE SNA opened at $358.93 on Tuesday. The stock has a fifty day moving average of $372.37 and a 200-day moving average of $380.17. The stock has a market capitalization of $18.51 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71. Snap-On has a 52 week low of $320.80 and a 52 week high of $423.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.71 and a current ratio of 3.55.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.71 EPS. On average, equities research analysts forecast that Snap-On will post 19.24 EPS for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 50.75%.

About Snap-On

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.