Snap-on (NYSE:SNA) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Snap-on Incorporated (NYSE:SNA)’s share price crossed 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 Upgrades and Downgrades

Several brokerages recently issued reports on SNA. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Barrington Research boosted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

The company has a 50-day simple moving average of $350.30 and a two-hundred day simple moving average of $303.31. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a market cap of $17.85 billion, a PE ratio of 17.50, a PEG ratio of 2.35 and a beta of 0.98.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

Insider Activity

In related news, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares in the company, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,723 shares of company stock valued at $18,029,670 in the last 90 days. Insiders own 4.10% of the company’s stock.

Institutional Trading of Snap-on

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mawer Investment Management Ltd. increased its stake in Snap-on by 234.7% in the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after acquiring an additional 443,333 shares during the last quarter. Pacer Advisors Inc. increased its stake in Snap-on by 51.2% in the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after acquiring an additional 280,997 shares during the last quarter. Millennium Management LLC increased its stake in Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after acquiring an additional 152,631 shares during the last quarter. Benjamin Edwards Inc. increased its stake in Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after acquiring an additional 152,428 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after acquiring an additional 129,960 shares during the last quarter. 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.