Pictet Asset Management Ltd. Boosts Position in Snap-on Incorporated (NYSE:SNA)

Pictet Asset Management Ltd. increased its stake in Snap-on Incorporated (NYSE:SNA) by 12.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 112,845 shares of the company’s stock after acquiring an additional 12,435 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Snap-on were worth $18,692,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC increased its position in Snap-on by 326.7% during the 1st quarter. Signaturefd LLC now owns 192 shares of the company’s stock valued at $30,000 after purchasing an additional 147 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in Snap-on during the 2nd quarter valued at about $35,000. Motco purchased a new position in Snap-on during the 2nd quarter valued at about $37,000. Zions Bancorporation N.A. purchased a new position in Snap-on during the 1st quarter valued at about $56,000. Finally, Icon Wealth Partners LLC purchased a new position in Snap-on during the 1st quarter valued at about $65,000.

SNA stock traded down $0.14 during trading on Friday, reaching $162.72. The company had a trading volume of 217,772 shares, compared to its average volume of 289,465. The firm has a 50-day simple moving average of $150.46 and a 200-day simple moving average of $158.12. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 2.48. Snap-on Incorporated has a twelve month low of $135.29 and a twelve month high of $189.46.



Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.01. The company had revenue of $951.30 million during the quarter, compared to analysts’ expectations of $959.33 million. Snap-on had a net margin of 18.70% and a return on equity of 21.40%. Snap-on’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business earned $3.11 EPS. Sell-side analysts expect that Snap-on Incorporated will post 12.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 32.18%.

In other Snap-on news, Chairman Nicholas T. Pinchuk sold 19,403 shares of Snap-on stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $164.60, for a total transaction of $3,193,733.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Anup R. Banerjee sold 2,800 shares of Snap-on stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.40, for a total transaction of $421,120.00. Following the sale, the senior vice president now owns 128 shares of the company’s stock, valued at $19,251.20. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

SNA has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a report on Tuesday. Longbow Research restated a “hold” rating on shares of Snap-on in a report on Monday, July 1st. Oppenheimer set a $180.00 price target on shares of Snap-on and gave the company a “buy” rating in a report on Friday, July 19th. Northcoast Research restated a “neutral” rating on shares of Snap-on in a report on Friday, May 17th. Finally, Barrington Research restated a “buy” rating and issued a $185.00 price target on shares of Snap-on in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Snap-on has an average rating of “Hold” and a consensus price target of $172.60.

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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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