Snap-on (NYSE:SNA) Shares Pass Above 200 Day Moving Average – Should You Sell?

Snap-on Incorporated (NYSE:SNA) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $302.81 and traded as high as $341.66. Snap-on shares last traded at $339.96, with a volume of 166,320 shares traded.

Analyst Ratings Changes

SNA has been the topic of a number of recent research reports. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Snap-on currently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

The company’s 50-day moving average price is $350.30 and its two-hundred day moving average price is $303.31. The company has a market capitalization of $17.85 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.35 and a beta of 0.98. 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 (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a $2.14 dividend. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Insiders Place Their Bets

In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,723 shares of company stock worth $18,029,670. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap-on

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of Snap-on by 0.5% during the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after acquiring an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Snap-on by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after acquiring an additional 56,266 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after acquiring an additional 69,590 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after acquiring an additional 13,033 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Snap-on by 9.4% during the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after acquiring an additional 78,184 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Company Profile

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.