Pacer Advisors Inc. Sells 489,815 Shares of Snap-On Incorporated (NYSE:SNA)

Pacer Advisors Inc. trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 65.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,585 shares of the company’s stock after selling 489,815 shares during the quarter. Pacer Advisors Inc. owned approximately 0.50% of Snap-On worth $88,157,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNA. Alpine Bank Wealth Management purchased a new stake in Snap-On in the 1st quarter worth $25,000. Golden State Wealth Management LLC lifted its position in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Snap-On during the 1st quarter valued at approximately $35,000. Finally, ORG Partners LLC increased its stake in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company’s stock worth $54,000 after acquiring an additional 95 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SNA. Robert W. Baird boosted their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Bank of America increased 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. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Longbow Research raised Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $356.17.

Snap-On Trading Up 0.1%

Shares of NYSE SNA opened at $330.42 on Friday. The business’s 50 day moving average price is $319.16 and its 200-day moving average price is $327.66. Snap-On Incorporated has a fifty-two week low of $266.56 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The company has a market cap of $17.23 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.30 and a beta of 0.76.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.11. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.07 earnings per share. On average, sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer directly owned 109,560 shares in the company, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer directly owned 804,510 shares of the company’s stock, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock valued at $9,482,532 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Snap-On Company 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.