Snap-On Incorporated (NYSE:SNA – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $426.20.
A number of analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Roth Capital reissued a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Robert W. Baird set a $415.00 target price on shares of Snap-On in a report on Friday, July 24th. Finally, Tigress Financial lifted their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st.
Read Our Latest Research Report on Snap-On
Snap-On Trading Down 0.0%
Snap-On (NYSE:SNA – Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business earned $4.72 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts predict that Snap-On will post 19.76 earnings per share for the current year.
Snap-On Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, August 19th. Snap-On’s dividend payout ratio is presently 49.77%.
Insiders Place Their Bets
In other Snap-On news, CFO Aldo Pagliari sold 5,531 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares of the company’s stock, valued at $48,770,337. This represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the sale, the chief executive officer owned 867,779 shares in the company, valued at approximately $346,842,588.51. The trade was a 2.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 38,720 shares of company stock valued at $15,688,358. Corporate insiders own 3.80% of the company’s stock.
Institutional Trading of Snap-On
A number of large investors have recently made changes to their positions in SNA. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Snap-On by 3.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 51,794 shares of the company’s stock valued at $20,842,000 after purchasing an additional 1,619 shares during the period. State Street Corp increased its stake in Snap-On by 2.9% in the 2nd quarter. State Street Corp now owns 2,356,671 shares of the company’s stock worth $948,324,000 after buying an additional 66,754 shares during the period. Security National Bank of Sioux City Iowa IA increased its stake in Snap-On by 24.5% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 4,732 shares of the company’s stock worth $1,904,000 after buying an additional 930 shares during the period. Tidal Investments LLC lifted its holdings in Snap-On by 3.1% during the 2nd quarter. Tidal Investments LLC now owns 5,530 shares of the company’s stock valued at $2,225,000 after buying an additional 165 shares in the last quarter. Finally, MCF Advisors LLC lifted its holdings in Snap-On by 13.1% during the 2nd quarter. MCF Advisors LLC now owns 1,790 shares of the company’s stock valued at $720,000 after buying an additional 207 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.
About Snap-On
Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, and diagnostic solutions. The company serves customers in the automotive repair, heavy-duty transportation, aviation, marine, railroad, agriculture, government, and other industrial sectors. Its offerings include hand and power tools, tool storage, shop equipment, diagnostic systems, repair information, and software.
Founded in 1920, Snap-on began by developing interchangeable socket sets for professional mechanics.
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