Snap-on Incorporated (NYSE:SNA) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,104 shares of the company’s stock after selling 1,456 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Snap-on were worth $20,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SNA. Greenleaf Trust boosted its holdings in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after buying an additional 30 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the last quarter. WCM Investment Management LLC raised its stake in Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares during the period. New York Life Investment Management LLC raised its position in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after buying an additional 31 shares during the period. Finally, Inspire Advisors LLC raised its position in Snap-on by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock valued at $1,148,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Snap-on Stock Up 2.4 %

Shares of SNA opened at $337.25 on Tuesday. The company’s 50-day simple moving average is $339.90 and its 200-day simple moving average is $334.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The stock has a market capitalization of $17.68 billion, a PE ratio of 17.29, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the firm posted $4.75 earnings per share. Analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.54%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Analysts Set New Price Targets

Several analysts recently issued reports on SNA shares. Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $355.33.

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.