Pictet Asset Management Holding SA Increases Stock Holdings in Snap-On Incorporated $SNA

Pictet Asset Management Holding SA increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,643 shares of the company’s stock after purchasing an additional 2,093 shares during the period. Pictet Asset Management Holding SA owned 0.14% of Snap-On worth $26,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in shares of Snap-On by 16.5% during the 1st quarter. Venturi Wealth Management LLC now owns 1,711 shares of the company’s stock worth $621,000 after purchasing an additional 242 shares during the period. Corecam AG acquired a new stake in shares of Snap-On during the first quarter valued at about $273,000. Louisiana State Employees Retirement System acquired a new stake in shares of Snap-On during the first quarter valued at about $944,000. Kestra Private Wealth Services LLC raised its stake in shares of Snap-On by 34.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 6,840 shares of the company’s stock valued at $2,484,000 after acquiring an additional 1,752 shares during the period. Finally, Ritholtz Wealth Management lifted its holdings in shares of Snap-On by 2.4% in the 1st quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock worth $521,000 after acquiring an additional 34 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Up 0.3%

Shares of SNA opened at $403.54 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The company has a market capitalization of $20.90 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.83 and a beta of 0.73. The stock has a fifty day moving average of $379.51 and a two-hundred day moving average of $371.82. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $406.30.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.51 earnings per share. As a group, analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s payout ratio is currently 50.39%.

Snap-On announced that its board has authorized a share buyback plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently weighed in on SNA. Barclays started coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Robert W. Baird lifted their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Roth Mkm reiterated a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $387.67.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 1,330 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the transaction, the chief financial officer owned 118,158 shares in the company, valued at $44,813,784.66. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jesus Arregui sold 4,251 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president owned 4,439 shares of the company’s stock, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 35,117 shares of company stock worth $13,192,082 over the last three months. 3.80% of the stock is currently owned by insiders.

About Snap-On

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.