Pacer Advisors Inc. Has $88.16 Million Position in Snap-On Incorporated (NYSE:SNA)

Key Points

• Pacer Advisors Inc. has reduced its stake in Snap-On Incorporated by 65.2%, selling 489,815 shares and retaining approximately 261,585 shares valued at $88.2 million.
• Several institutional investors are actively adjusting their positions in Snap-On, with notable increases in stakes by firms like Golden State Wealth Management and Cullen Frost Bankers.
• Snap-On reported an earnings per share (EPS) of $4.72 for the latest quarter, beating analysts' expectations by $0.11, with total revenue of $1.18 billion.

Pacer Advisors Inc. lessened its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 65.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,585 shares of the company's stock after selling 489,815 shares during the period. Pacer Advisors Inc. owned approximately 0.50% of Snap-On worth $88,157,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. grew its position in Snap-On by 14.4% in the 4th quarter. American Century Companies Inc. now owns 76,348 shares of the company's stock valued at $25,919,000 after buying an additional 9,596 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Snap-On by 25.5% in the fourth quarter. LPL Financial LLC now owns 73,764 shares of the company's stock worth $25,042,000 after buying an additional 14,985 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Snap-On by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock worth $2,174,233,000 after buying an additional 19,328 shares during the period. Modern Wealth Management LLC purchased a new stake in shares of Snap-On in the fourth quarter worth approximately $219,000. Finally, TIAA Trust National Association lifted its position in shares of Snap-On by 8.9% in the fourth quarter. TIAA Trust National Association now owns 4,745 shares of the company's stock worth $1,611,000 after purchasing an additional 387 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Longbow Research upgraded shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $356.17.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer directly owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director directly owned 8,030 shares of the company's stock, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. 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 ninety days. 3.90% of the stock is owned by insiders.

Snap-On Price Performance

Shares of NYSE SNA traded down $0.24 during midday trading on Tuesday, reaching $326.29. 52,231 shares of the company traded hands, compared to its average volume of 393,986. The firm has a market cap of $17.02 billion, a PE ratio of 17.39, a PEG ratio of 2.30 and a beta of 0.76. The stock's 50-day simple moving average is $319.02 and its 200-day simple moving average is $327.46. Snap-On Incorporated has a 12 month low of $266.56 and a 12 month 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.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly 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. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the business posted $5.07 earnings per share. The firm's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On 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.