Banque Pictet & Cie SA Decreases Position in Snap-On Incorporated $SNA

Banque Pictet & Cie SA trimmed its position in Snap-On Incorporated (NYSE:SNA) by 30.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,630 shares of the company’s stock after selling 2,881 shares during the period. Banque Pictet & Cie SA’s holdings in Snap-On were worth $2,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. GoalVest Advisory LLC acquired a new stake in shares of Snap-On in the fourth quarter worth approximately $28,000. SJS Investment Consulting Inc. raised its stake in Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. Quent Capital LLC purchased a new position in Snap-On in the 3rd quarter valued at $36,000. CoreFirst Bank & Trust acquired a new stake in Snap-On during the 2nd quarter worth $37,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Snap-On during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SNA. Tigress Financial raised their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Roth Mkm reaffirmed a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 price objective on shares of Snap-On in a report on Friday, February 6th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president owned 2,913 shares of the company’s stock, valued at $1,128,991.41. This represents a 32.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $383.36, for a total value of $8,905,069.44. Following the sale, the chief executive officer directly owned 846,562 shares of the company’s stock, valued at $324,538,008.32. The trade was a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 39,650 shares of company stock worth $15,210,959. Company insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Snap-On stock opened at $365.39 on Friday. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $373.22 and a 200 day moving average price of $354.64. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $390.13. The stock has a market cap of $19.02 billion, a P/E ratio of 19.04, a PEG ratio of 2.53 and a beta of 0.77.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the company posted $4.82 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a $2.44 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s payout ratio is currently 50.86%.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.