Banque Pictet & Cie SA Sells 1,288 Shares of Snap-On Incorporated $SNA

Key Points

• Banque Pictet & Cie SA reduced its holdings in Snap-On Incorporated by 10.8%, selling 1,288 shares and owning 10,629 shares worth $3,308,000 after the transaction.
• Recent insider sales include CFO Aldo John Pagliari selling 4,731 shares and CEO Nicholas T. Pinchuk selling 23,042 shares, indicating a decline in their ownership percentages.
• Snap-On's stock has been rated by analysts with an average target price of $357.00, with most analysts suggesting a "Moderate Buy" on the stock.

Banque Pictet & Cie SA trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,629 shares of the company's stock after selling 1,288 shares during the period. Banque Pictet & Cie SA's holdings in Snap-On were worth $3,308,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SNA. Alpine Bank Wealth Management bought a new stake in Snap-On in the first quarter valued at approximately $25,000. Golden State Wealth Management LLC increased its stake in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Snap-On in the first quarter valued at approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company's stock valued at $34,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the sale, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock valued at $8,983,203 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on SNA shares. Robert W. Baird upped their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Tigress Financial upped their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Bank of America upped their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Stock Performance

Shares of SNA opened at $341.94 on Friday. Snap-On Incorporated has a 12 month low of $284.38 and a 12 month high of $373.89. The firm has a fifty day simple moving average of $328.29 and a 200 day simple moving average of $323.05. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.34 and a beta of 0.77. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the company posted $5.07 earnings per share. The firm's revenue was up .0% on a year-over-year basis. Research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On's dividend payout ratio is presently 45.65%.

Snap-On 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.

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