Snap-On (NYSE:SNA) Hits New 12-Month High – Here’s What Happened

Snap-On Incorporated (NYSE:SNA) reached a new 52-week high on Wednesday . The company traded as high as $380.20 and last traded at $378.6150, with a volume of 596675 shares. The stock had previously closed at $371.52.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Roth Mkm restated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Tigress Financial boosted their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.83.

Snap-On Price Performance

The stock’s 50-day moving average price is $354.91 and its 200 day moving average price is $340.87. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.61 and a beta of 0.81.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were paid a $2.44 dividend. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend was Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On’s dividend payout ratio is 51.18%.

Insider Buying and Selling

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snap-On

A number of hedge funds have recently modified their holdings of SNA. First Trust Advisors LP raised its stake in Snap-On by 40.7% during the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock worth $588,973,000 after purchasing an additional 547,527 shares during the period. Norges Bank acquired a new stake in shares of Snap-On during the 2nd quarter worth approximately $168,010,000. Victory Capital Management Inc. raised its position in shares of Snap-On by 346.0% during the 3rd quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after buying an additional 216,813 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in Snap-On in the fourth quarter valued at approximately $69,751,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Snap-On in the second quarter worth approximately $56,595,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Company Profile

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.