Pictet Asset Management Holding SA Lowers Holdings in Snap-on Incorporated (NYSE:SNA)

Pictet Asset Management Holding SA trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,104 shares of the company's stock after selling 1,456 shares during the period. Pictet Asset Management Holding SA owned approximately 0.11% of Snap-on worth $20,065,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised 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 valued at $25,000 after acquiring an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on in the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Snap-on in the fourth quarter worth $28,000. CoreFirst Bank & Trust acquired a new stake in Snap-on during the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC lifted its position in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SNA shares. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Finally, Tigress Financial lifted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $355.33.

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Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction dated 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 directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 in the last quarter. 3.90% of the stock is owned by insiders.

Snap-on Trading Up 0.8 %

NYSE:SNA traded up $2.68 on Wednesday, reaching $342.26. The company's stock had a trading volume of 302,372 shares, compared to its average volume of 342,055. The business's 50-day moving average price is $339.41 and its two-hundred day moving average price is $334.80. 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 firm has a market cap of $17.94 billion, a PE ratio of 17.55, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share 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 earned $4.75 earnings per share. Equities research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.50%. Snap-on's dividend payout ratio is currently 43.90%.

About Snap-on

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.