Snap-On (NYSE:SNA) Hits New 12-Month High – Time to Buy?

Snap-On Incorporated (NYSE:SNA) shares hit a new 52-week high on Wednesday . The stock traded as high as $371.34 and last traded at $368.5530, with a volume of 37129 shares traded. The stock had previously closed at $364.58.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNA. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Roth Capital restated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Tigress Financial boosted their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Robert W. Baird raised their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Snap-On Stock Up 1.2%

The firm has a market capitalization of $19.18 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 2.54 and a beta of 0.80. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average price is $347.59 and its 200 day moving average price is $337.40.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, November 21st. This is a boost from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Insider Transactions at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total value of $696,540.00. Following the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This represents a 32.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 40,036 shares of company stock worth $13,710,988. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap-On

Institutional investors and hedge funds have recently modified their holdings of the stock. Generali Asset Management SPA SGR acquired a new stake in Snap-On during the 3rd quarter worth approximately $2,068,000. Norges Bank purchased a new stake in shares of Snap-On during the second quarter worth $168,010,000. Vanguard Group Inc. raised its stake in shares of Snap-On by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after acquiring an additional 80,422 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Snap-On by 3.0% in the third quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after purchasing an additional 36,964 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Snap-On by 85.8% in the second quarter. Empowered Funds LLC now owns 52,375 shares of the company’s stock valued at $16,298,000 after purchasing an additional 24,182 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.