Snap-On (NYSE:SNA) Hits New 52-Week High – What’s Next?

Snap-On Incorporated (NYSE:SNA)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $366.17 and last traded at $364.8250, with a volume of 62684 shares trading hands. The stock had previously closed at $361.31.

Analysts Set New Price Targets

SNA has been the subject of several research reports. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Roth Capital restated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Robert W. Baird increased their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Snap-On Stock Performance

The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The firm has a 50 day moving average price of $344.24 and a 200-day moving average price of $334.40.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.Snap-On’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.70 EPS. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

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

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,779 shares of the firm’s 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 sale, the chief financial officer directly owned 111,888 shares in the company, valued at approximately $39,406,953.60. This trade represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jesus Arregui sold 3,831 shares of Snap-On 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 sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC purchased a new stake in Snap-On during the second quarter worth approximately $434,938,000. First Trust Advisors LP raised its holdings in Snap-On by 40.7% during the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock worth $588,973,000 after purchasing an additional 547,527 shares in the last quarter. Norges Bank purchased a new stake in shares of Snap-On during the 2nd quarter worth approximately $168,010,000. Victory Capital Management Inc. boosted its holdings in shares of Snap-On by 346.0% in the 3rd quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after buying an additional 216,813 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Snap-On in the 2nd quarter valued at $56,595,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Company Profile

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.