Snap-On Incorporated $SNA Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of Snap-On Incorporated (NYSE:SNA) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,630 shares of the company’s stock after selling 5,092 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.11% of Snap-On worth $21,304,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Western Wealth Management LLC bought a new position in Snap-On in the first quarter valued at about $29,000. Independence Bank of Kentucky bought a new stake in Snap-On during the 3rd quarter worth about $29,000. Keating Financial Advisory Services Inc. acquired a new position in Snap-On during the 2nd quarter valued at about $45,000. Elevation Wealth Partners LLC lifted its position in Snap-On by 773.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 131 shares of the company’s stock valued at $53,000 after purchasing an additional 116 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in Snap-On during the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-On

In related news, CEO Nicholas Pinchuk sold 22,889 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total value of $9,148,504.41. Following the sale, the chief executive officer directly owned 867,779 shares in the company, valued at $346,842,588.51. This trade represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the 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 sale, the vice president owned 1,526 shares in the company, valued at $610,400. This represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company’s stock.

Snap-On Stock Up 0.4%

Shares of Snap-On stock opened at $374.74 on Thursday. The business has a fifty day simple moving average of $368.00 and a 200 day simple moving average of $380.30. The stock has a market cap of $19.33 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.66 and a beta of 0.75. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14. Snap-On Incorporated has a 12 month low of $320.80 and a 12 month high of $423.02.

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

Snap-On Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Robert W. Baird set a $385.00 target price on shares of Snap-On in a research note on Friday, October 23rd. Tigress Financial boosted their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Barclays cut their price objective on shares of Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Roth Capital reaffirmed a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Weiss Ratings cut shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $434.00.

Snap-On Company 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.