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

Barrington Research reaffirmed their outperform rating on shares of Snap-on (NYSE:SNA) in a research report sent to investors on Friday morning,Benzinga reports. Barrington Research currently has a $350.00 price target on the stock.

SNA has been the subject of a number of other research reports. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Trading Up 4.4 %

Shares of SNA stock opened at $336.50 on Friday. The stock has a 50 day simple moving average of $333.58 and a 200 day simple moving average of $337.16. Snap-on has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.64 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company earned $4.75 EPS. On average, research analysts predict that Snap-on will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 in the last ninety days. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap-on

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Snap-on during the 4th quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust bought a new stake in shares of Snap-on in the 4th quarter worth approximately $40,000. Finally, TCTC Holdings LLC increased its stake in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.