Roth Mkm Boosts Snap-on (NYSE:SNA) Price Target to $365.00

Snap-on (NYSE:SNA) had its target price lifted by Roth Mkm from $324.00 to $365.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

SNA has been the subject of several other research reports. Barrington Research upped their price target 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. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird increased their price objective 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. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Stock Performance

Shares of SNA stock opened at $326.62 on Tuesday. Snap-on has a one year low of $250.30 and a one year high of $330.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a 50 day moving average price of $289.40 and a 200 day moving average price of $277.91. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is 38.29%.

Snap-on announced that its board has authorized a share buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,598 shares of company stock valued at $10,461,986. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new position in Snap-on during the 2nd quarter valued at $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the 2nd quarter worth about $32,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares during the last quarter. Quarry LP lifted its position 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. Finally, Fidelis Capital Partners LLC bought a new position in shares of Snap-on in the 1st quarter worth about $56,000. 84.88% of the stock is currently 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.