Banque Pictet & Cie SA Invests $4.24 Million in Snap-on Incorporated (NYSE:SNA)

Banque Pictet & Cie SA bought a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 12,501 shares of the company's stock, valued at approximately $4,244,000.

Several other institutional investors also recently bought and sold shares of the company. Creative Planning lifted its stake in Snap-on by 4.7% during the third quarter. Creative Planning now owns 9,909 shares of the company's stock worth $2,871,000 after purchasing an additional 446 shares during the last quarter. Swedbank AB increased its holdings in shares of Snap-on by 2.7% in the third quarter. Swedbank AB now owns 51,143 shares of the company's stock valued at $14,817,000 after purchasing an additional 1,351 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Snap-on by 116.3% in the third quarter. Vontobel Holding Ltd. now owns 1,968 shares of the company's stock valued at $570,000 after purchasing an additional 1,058 shares during the period. nVerses Capital LLC acquired a new position in shares of Snap-on in the third quarter valued at approximately $58,000. Finally, Global Retirement Partners LLC grew its holdings in Snap-on by 9.5% during the third quarter. Global Retirement Partners LLC now owns 3,760 shares of the company's stock worth $1,089,000 after acquiring an additional 325 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Up 1.0 %

Shares of SNA stock traded up $3.50 during trading hours on Tuesday, reaching $342.42. The company had a trading volume of 342,844 shares, compared to its average volume of 388,239. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a market capitalization of $17.98 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The stock's fifty day simple moving average is $345.04 and its 200 day simple moving average is $322.05.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the company earned $4.75 earnings per share. As a group, sell-side analysts expect that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.50%. Snap-on's dividend payout ratio (DPR) is 43.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SNA shares. Tigress Financial upped their price objective on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Finally, Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $345.40.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,909 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares of the company's stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,643 shares of company stock worth $13,580,191. 4.10% of the stock is currently owned by insiders.

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.