Snap-on (NYSE:SNA) Receives Outperform Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Snap-on (NYSE:SNA) in a research note released on Monday,Benzinga reports. The firm currently has a $360.00 price objective on the stock.

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

Snap-on Price Performance

NYSE:SNA opened at $357.61 on Monday. The company has a market cap of $18.78 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.23 and a beta of 0.99. The firm’s fifty day moving average price is $349.05 and its two-hundred day moving average price is $318.38. Snap-on has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a $2.14 dividend. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, November 21st. Snap-on’s payout ratio is 44.06%.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock valued at $11,400,978 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Snap-on

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in Snap-on during the fourth quarter worth about $57,738,000. Benjamin Edwards Inc. increased its position in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after purchasing an additional 129,960 shares during the last quarter. Nordea Investment Management AB boosted its position in Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC grew its stake in shares of Snap-on by 706.3% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company’s stock worth $38,474,000 after buying an additional 99,276 shares during the last quarter. Institutional investors 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.