Barrington Research Reaffirms "Outperform" Rating for Snap-on (NYSE:SNA)

Barrington Research reaffirmed their outperform rating on shares of Snap-on (NYSE:SNA - Free Report) in a research report released on Friday,Benzinga reports. They currently have a $350.00 target price on the stock.

Several other research analysts have also weighed in on the stock. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $355.67.

Snap-on Trading Down 1.9 %

Shares of NYSE:SNA traded down $6.48 during trading on Friday, hitting $330.59. 276,971 shares of the company's stock were exchanged, compared to its average volume of 351,054. The firm has a 50-day moving average price of $333.12 and a two-hundred day moving average price of $337.49. Snap-on has a 1-year low of $252.98 and a 1-year high of $373.90. The firm has a market cap of $17.33 billion, a P/E ratio of 16.95, a PEG ratio of 2.21 and a beta of 0.84. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

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Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the company posted $4.75 EPS. Equities analysts predict that Snap-on will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio is 43.90%.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company's stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Snap-on

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Snap-on during the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on in the fourth quarter valued at $28,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-on during the 4th quarter worth about $40,000. Finally, TCTC Holdings LLC raised its holdings in Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after acquiring an additional 43 shares during the period. 84.88% of the stock is owned by institutional investors.

About Snap-on

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.