Tigress Financial Boosts Snap-on (NYSE:SNA) Price Target to $385.00

Snap-on (NYSE:SNA) had its price target raised by Tigress Financial from $336.00 to $385.00 in a report released on Friday, Benzinga reports. Tigress Financial currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Finally, Barrington Research lifted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Stock Up 1.9 %

Shares of SNA opened at $332.69 on Friday. The firm has a market cap of $17.47 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.16 and a beta of 0.98. Snap-on has a 1 year low of $252.21 and a 1 year high of $334.39. The stock has a 50 day simple moving average of $290.50 and a two-hundred day simple moving average of $277.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Announces Dividend

The company also recently announced 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. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.24%. Snap-on’s dividend payout ratio (DPR) is 38.29%.

Snap-on declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,598 shares of company stock worth $10,461,986 in the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Snap-on

A number of institutional investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new position in shares of Snap-on during the second quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new stake in Snap-on in the 3rd quarter worth approximately $30,000. Innealta Capital LLC purchased a new stake in Snap-on during the 2nd quarter valued at $32,000. Massmutual Trust Co. FSB ADV lifted 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 valued at $37,000 after buying an additional 44 shares during the period. Finally, Quarry LP boosted its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.