Tigress Financial Raises Snap-on (NYSE:SNA) Price Target to $385.00

Snap-on (NYSE:SNA) had its price objective lifted by Tigress Financial from $336.00 to $385.00 in a report published on Friday morning, Benzinga reports. Tigress Financial currently has a buy rating on the stock.

Several other research firms have also commented on SNA. Roth Mkm lifted their price target 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. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America increased their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Finally, Barrington Research lifted their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on Trading Up 0.3 %

Shares of NYSE SNA opened at $326.58 on Friday. The stock has a market capitalization of $17.22 billion, a P/E ratio of 17.13, a PEG ratio of 2.14 and a beta of 0.98. The stock’s 50 day moving average price is $289.40 and its two-hundred day moving average price is $277.70. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on has a 52-week low of $250.30 and a 52-week high of $330.51.

Snap-on declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.28%. Snap-on’s payout ratio is 39.03%.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,598 shares of company stock worth $10,461,986. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap-on

Several hedge funds have recently modified their holdings of SNA. Wealth Enhancement Advisory Services LLC lifted its stake in Snap-on by 6.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,830 shares of the company’s stock valued at $10,317,000 after buying an additional 2,202 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Snap-on by 12.9% in the 1st quarter. MCF Advisors LLC now owns 843 shares of the company’s stock valued at $250,000 after acquiring an additional 96 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Snap-on in the 1st quarter worth approximately $422,000. Diversified Trust Co grew its position in Snap-on by 7.4% during the 1st quarter. Diversified Trust Co now owns 3,755 shares of the company’s stock worth $1,112,000 after purchasing an additional 260 shares in the last quarter. Finally, Claro Advisors LLC raised its stake in Snap-on by 6.1% during the 1st quarter. Claro Advisors LLC now owns 3,372 shares of the company’s stock valued at $999,000 after purchasing an additional 193 shares during the period. 84.88% of the stock is owned by hedge funds and other 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.