Pictet Asset Management Ltd. raised its stake in Snap-on Incorporated (NYSE:SNA) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 76,436 shares of the company’s stock after purchasing an additional 1,072 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Snap-on were worth $14,034,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Baird Financial Group Inc. raised its holdings in shares of Snap-on by 2.0% during the second quarter. Baird Financial Group Inc. now owns 53,715 shares of the company’s stock valued at $8,630,000 after acquiring an additional 1,046 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Snap-on by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 59,533 shares of the company’s stock valued at $9,567,000 after acquiring an additional 1,334 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Snap-on by 7.1% during the second quarter. Schroder Investment Management Group now owns 497,887 shares of the company’s stock valued at $80,657,000 after acquiring an additional 32,839 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Snap-on by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock valued at $4,943,000 after acquiring an additional 676 shares in the last quarter. Finally, Keel Point LLC bought a new position in shares of Snap-on during the third quarter valued at approximately $221,000.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Snap-on from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Thursday, October 4th. Barrington Research restated a “buy” rating and set a $200.00 target price on shares of Snap-on in a report on Monday, August 20th. Finally, Robert W. Baird decreased their target price on Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Snap-on presently has an average rating of “Buy” and an average target price of $195.40.

SNA opened at $156.49 on Thursday. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.28 and a beta of 1.31. Snap-on Incorporated has a 12-month low of $141.63 and a 12-month high of $189.46.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 18th. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.02. The business had revenue of $898.10 million during the quarter, compared to the consensus estimate of $928.73 million. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.45 earnings per share. On average, equities analysts predict that Snap-on Incorporated will post 11.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 20th will be issued a $0.95 dividend. This is an increase from Snap-on’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, November 19th. This represents a $3.80 dividend on an annualized basis and a yield of 2.43%. Snap-on’s dividend payout ratio is 37.55%.

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About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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

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