Pacer Advisors Inc. Purchases 78,184 Shares of Snap-on Incorporated (NYSE:SNA)

Pacer Advisors Inc. lifted its position in Snap-on Incorporated (NYSE:SNA) by 9.4% in the 3rd quarter, Holdings Channel reports. The fund owned 907,655 shares of the company’s stock after acquiring an additional 78,184 shares during the quarter. Pacer Advisors Inc.’s holdings in Snap-on were worth $262,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in Snap-on in the third quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-on in the 2nd quarter worth about $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the 2nd quarter worth about $32,000. Massmutual Trust Co. FSB ADV lifted its position in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the period. Finally, Quarry LP boosted its stake in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SNA. Robert W. Baird raised their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research increased their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Finally, Roth Mkm increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling

In other news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. This represents a 34.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the sale, the vice president now owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,717 shares of company stock worth $6,965,480. 4.10% of the stock is owned by insiders.

Snap-on Stock Up 0.9 %

SNA stock opened at $357.85 on Thursday. The stock has a market capitalization of $18.79 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.35 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $365.35. The business has a fifty day moving average price of $314.25 and a 200-day moving average price of $286.92.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Equities analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a $2.14 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.39%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

Snap-on declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.