Snap-on (NYSE:SNA) Given New $282.00 Price Target at Robert W. Baird

Snap-on (NYSE:SNA) had its price target cut by Robert W. Baird from $295.00 to $282.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

SNA has been the subject of a number of other reports. Roth Mkm reaffirmed a buy rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday. Barrington Research reaffirmed an outperform rating and set a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Finally, Tigress Financial reissued a buy rating and issued a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $301.40.

Snap-on Price Performance

SNA opened at $268.80 on Friday. The business has a fifty day moving average of $283.78 and a 200 day moving average of $278.27. Snap-on has a 52-week low of $245.73 and a 52-week high of $298.49. The company has a quick ratio of 2.81, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.20 billion, a P/E ratio of 14.10, a PEG ratio of 1.87 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $4.60 EPS. Snap-on’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snap-on will post 19.22 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. Snap-on’s payout ratio is 39.03%.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Anup R. Banerjee sold 12,397 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $283.13, for a total value of $3,509,962.61. Following the completion of the sale, the senior vice president now directly owns 11,420 shares of the company’s stock, valued at approximately $3,233,344.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Snap-on by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock worth $1,308,079,000 after acquiring an additional 44,555 shares during the period. Charles Schwab Investment Management Inc. grew its position in Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after acquiring an additional 26,260 shares during the period. JPMorgan Chase & Co. grew its position in Snap-on by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock worth $309,984,000 after acquiring an additional 8,649 shares during the period. Ariel Investments LLC grew its position in Snap-on by 1.8% in the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock worth $232,038,000 after acquiring an additional 20,485 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Snap-on by 3.6% during the first quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock worth $180,298,000 after buying an additional 30,664 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

About Snap-on

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.