Pacer Advisors Inc. Sells 4,740 Shares of Snap-On Incorporated $SNA

Pacer Advisors Inc. cut its position in shares of Snap-On Incorporated (NYSE:SNA) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 168,352 shares of the company’s stock after selling 4,740 shares during the quarter. Pacer Advisors Inc. owned approximately 0.32% of Snap-On worth $61,149,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SNA. DV Trading LLC bought a new position in shares of Snap-On in the first quarter valued at approximately $247,000. Parallel Advisors LLC increased its position in shares of Snap-On by 13.6% during the first quarter. Parallel Advisors LLC now owns 753 shares of the company’s stock valued at $274,000 after acquiring an additional 90 shares during the last quarter. Cozad Asset Management Inc. lifted its holdings in Snap-On by 3.6% during the first quarter. Cozad Asset Management Inc. now owns 7,675 shares of the company’s stock worth $2,788,000 after acquiring an additional 264 shares during the period. Axiom Investment Management LLC bought a new stake in Snap-On during the first quarter worth $118,000. Finally, Western Wealth Management LLC purchased a new position in Snap-On in the first quarter worth $29,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Robert W. Baird set a $415.00 target price on Snap-On in a research note on Friday, July 24th. Tigress Financial boosted their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday. Barclays assumed coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Finally, Roth Capital restated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.20.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 4,251 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the sale, the senior vice president directly owned 4,439 shares in the company, valued at approximately $1,704,220.88. The trade was a 48.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 46,617 shares of company stock worth $17,987,869 in the last quarter. 3.80% of the stock is currently owned by company insiders.

Snap-On Price Performance

Shares of NYSE SNA opened at $410.78 on Monday. The stock has a fifty day simple moving average of $394.51 and a two-hundred day simple moving average of $380.47. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $420.91. The firm has a market cap of $21.25 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.89 and a beta of 0.73. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $4.72 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On declared that its board has approved a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Snap-On Company Profile

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.