Snap-on (NYSE:SNA) Price Target Raised to $365.00

Snap-on (NYSE:SNA) had its price target boosted by Roth Mkm from $324.00 to $365.00 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

SNA has been the subject of a number of other reports. Tigress Financial reissued a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. Robert W. Baird increased their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America raised their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Barrington Research upped their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $335.60.

Snap-on Stock Performance

NYSE SNA opened at $325.56 on Tuesday. The firm has a market capitalization of $17.10 billion, a P/E ratio of 16.76, a PEG ratio of 2.14 and a beta of 0.98. The stock has a 50-day simple moving average of $288.39 and a two-hundred day simple moving average of $277.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on has a fifty-two week low of $249.84 and a fifty-two week high of $330.51.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s payout ratio is 38.29%.

Snap-on announced that its board has approved a share repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the transaction, the vice president now owns 3,218 shares in the company, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,598 shares of company stock valued at $10,461,986 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in Snap-on during the second quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on in the 2nd quarter worth $32,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the period. Quarry LP boosted its position in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after purchasing an additional 164 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.