Snap-On (NYSE:SNA) Reaches New 1-Year High – Time to Buy?

Snap-On Incorporated (NYSE:SNA)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $375.28 and last traded at $368.4850, with a volume of 60676 shares traded. The stock had previously closed at $370.07.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Tigress Financial increased their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Robert W. Baird set a $370.00 price objective on shares of Snap-On in a report on Friday. Roth Mkm reissued a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Finally, Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.83.

Snap-On Stock Down 0.1%

The firm has a market cap of $19.04 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.80. The business’s 50-day moving average is $353.39 and its 200-day moving average is $339.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were issued a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, November 21st. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 3,831 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $891,093.76. This trade represents a 59.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,779 shares of Snap-On stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the completion of the transaction, the chief financial officer owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. The trade was a 5.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 40,036 shares of company stock valued at $13,710,988 in the last 90 days. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNA. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On in the 4th quarter valued at about $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On in the fourth quarter valued at approximately $28,000. Tobam acquired a new stake in shares of Snap-On in the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new position in Snap-On in the 2nd quarter worth approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its holdings in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.