Pacer Advisors Inc. Reduces Stock Position in Snap-On Incorporated $SNA

Pacer Advisors Inc. decreased its holdings in Snap-On Incorporated (NYSE:SNA) by 17.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,092 shares of the company’s stock after selling 36,356 shares during the period. Pacer Advisors Inc. owned about 0.33% of Snap-On worth $59,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Snap-On in the fourth quarter worth about $25,000. DV Equities LLC bought a new stake in Snap-On during the 4th quarter valued at about $25,000. GoalVest Advisory LLC bought a new stake in Snap-On during the 4th quarter valued at about $28,000. Montag A & Associates Inc. boosted its position in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the period. Finally, Quattro Advisors LLC purchased a new stake in Snap-On in the 4th quarter valued at about $35,000. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the sale, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president directly owned 4,439 shares of the company’s stock, valued at $1,704,220.88. The trade was a 48.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,117 shares of company stock valued at $13,192,082 over the last three months. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNA. Tigress Financial raised their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Barclays assumed coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective on the stock. Roth Mkm restated a “buy” rating and set a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Finally, Robert W. Baird lifted their target price on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $387.67.

Snap-On Stock Performance

Shares of Snap-On stock opened at $388.01 on Friday. The company has a market capitalization of $20.10 billion, a PE ratio of 20.03, a P/E/G ratio of 2.72 and a beta of 0.73. The company has a 50-day simple moving average of $376.60 and a two-hundred day simple moving average of $368.77. Snap-On Incorporated has a one year low of $301.82 and a one year high of $400.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53.

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

Snap-On announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On 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.