5,092 Snap-On Incorporated $SNA Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,630 shares of the company’s stock after selling 5,092 shares during the period. Pictet Asset Management Holding SA’s holdings in Snap-On were worth $21,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Snap-On in the second quarter valued at about $1,715,363,000. State Street Corp raised its position in shares of Snap-On by 2.9% during the second quarter. State Street Corp now owns 2,356,671 shares of the company’s stock worth $948,324,000 after purchasing an additional 66,754 shares during the period. First Trust Advisors LP raised its position in shares of Snap-On by 3.3% during the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock worth $738,473,000 after purchasing an additional 65,521 shares during the period. Bank of America Corp DE raised its position in shares of Snap-On by 0.4% during the first quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock worth $363,037,000 after purchasing an additional 3,770 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Snap-On by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock valued at $319,955,000 after purchasing an additional 17,337 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Performance

SNA opened at $374.74 on Thursday. The business’s 50-day moving average price is $368.00 and its two-hundred day moving average price is $380.30. Snap-On Incorporated has a 1 year low of $320.80 and a 1 year high of $423.02. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.55 and a quick ratio of 2.71.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a net margin of 20.82% and a return on equity of 16.77%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 earnings per share. Equities analysts expect that Snap-On Incorporated will post 19.24 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be given a $2.75 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $11.00 dividend on an annualized basis and a yield of 2.9%. This is a boost from Snap-On’s previous quarterly dividend of $2.44. Snap-On’s payout ratio is 50.75%.

Analyst Upgrades and Downgrades

SNA has been the subject of several research analyst reports. Barclays decreased their price objective on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Weiss Ratings downgraded shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Tigress Financial lifted their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Roth Capital reiterated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Finally, Robert W. Baird set a $385.00 price target on shares of Snap-On in a report on Friday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and an average price target of $434.00.

Insider Activity at Snap-On

In other news, VP Marty V. Ozolins sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president directly owned 1,526 shares of the company’s stock, valued at $610,400. This trade represents a 34.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.

Snap-On Profile

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.