Pacer Advisors Inc. Trims Holdings in Snap-On Incorporated $SNA

Pacer Advisors Inc. trimmed its stake in shares of Snap-On Incorporated (NYSE:SNA) by 2.7% during the first quarter, HoldingsChannel.com reports. The firm owned 168,352 shares of the company’s stock after selling 4,740 shares during the quarter. Pacer Advisors Inc.’s holdings in Snap-On were worth $61,149,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SNA. DV Trading LLC bought a new position in Snap-On in the 1st quarter worth about $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 buying an additional 90 shares during the period. Cozad Asset Management Inc. increased its position in shares of Snap-On by 3.6% during the first quarter. Cozad Asset Management Inc. now owns 7,675 shares of the company’s stock valued at $2,788,000 after buying an additional 264 shares during the period. Axiom Investment Management LLC purchased a new stake in shares of Snap-On in the first quarter worth about $118,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Snap-On in the first quarter worth about $29,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 1,330 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $379.27, for a total value of $504,429.10. Following the transaction, the chief financial officer owned 118,158 shares of the company’s stock, valued at $44,813,784.66. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy L. Chambers sold 9,111 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the sale, the senior vice president owned 21,223 shares in the company, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 46,617 shares of company stock valued at $17,987,869 over the last quarter. Company insiders own 3.80% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $410.78 on Monday. The stock has a market cap of $21.25 billion, a P/E ratio of 20.95, a PEG ratio of 2.89 and a beta of 0.73. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $394.51 and its two-hundred day moving average price is $380.47. Snap-On Incorporated has a twelve month low of $312.78 and a twelve month high of $420.91.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.Snap-On’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.72 earnings per share. As a group, equities analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

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

Analysts Set New Price Targets

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

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.