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

Barrington Research reaffirmed their outperform rating on shares of Snap-on (NYSE:SNA) in a report issued on Monday,Benzinga reports. Barrington Research currently has a $360.00 price target on the stock.

SNA has been the topic of a number of other reports. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Finally, Roth Mkm increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $347.40.

Snap-on Stock Performance

Shares of SNA opened at $351.98 on Monday. Snap-on has a 12 month low of $252.98 and a 12 month high of $373.89. The business’s fifty day simple moving average is $349.59 and its two-hundred day simple moving average is $317.51. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 2.23 and a beta of 0.99. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.43%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio is presently 44.06%.

Insider Activity

In other news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,192 shares of company stock worth $11,400,978. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its stake in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $28,000. Reston Wealth Management LLC purchased a new position in Snap-on during the third quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV grew its holdings in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Snap-on in the 3rd quarter worth $39,000. Institutional investors and hedge funds 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.