A number of other research firms have also weighed in on SNA. Zacks Investment Research lowered shares of Snap-on from a buy rating to a hold rating in a report on Friday, January 12th. Robert W. Baird reaffirmed a buy rating and set a $220.00 target price (up previously from $184.00) on shares of Snap-on in a report on Monday, January 29th. They noted that the move was a valuation call. Finally, B. Riley reaffirmed a buy rating and set a $205.00 target price on shares of Snap-on in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Snap-on presently has a consensus rating of Buy and a consensus target price of $192.00.
Shares of Snap-on (SNA) opened at $153.38 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.78. The firm has a market cap of $8,700.00, a P/E ratio of 15.91, a P/E/G ratio of 1.29 and a beta of 1.12. Snap-on has a twelve month low of $140.83 and a twelve month high of $185.47.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, March 1st. Snap-on’s payout ratio is 34.02%.
In other news, CEO Nicholas T. Pinchuk sold 20,680 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Thomas L. Kassouf sold 96,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.40, for a total transaction of $15,398,400.00. The disclosure for this sale can be found here. Insiders sold a total of 146,355 shares of company stock worth $24,058,960 in the last three months. Insiders own 3.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. D.B. Root & Company LLC bought a new position in shares of Snap-on in the 4th quarter worth $229,000. Xact Kapitalforvaltning AB increased its holdings in shares of Snap-on by 3.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 22,765 shares of the company’s stock worth $3,968,000 after buying an additional 719 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Snap-on by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 148,369 shares of the company’s stock worth $25,861,000 after buying an additional 4,726 shares during the last quarter. Griffin Asset Management Inc. bought a new position in shares of Snap-on in the 4th quarter worth $2,982,000. Finally, We Are One Seven LLC bought a new position in shares of Snap-on in the 4th quarter worth $379,000. 99.40% of the stock is currently owned by hedge funds and other institutional investors.
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Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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