Pacer Advisors Inc. Has $216.82 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Pacer Advisors Inc. raised its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 51.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 829,471 shares of the company's stock after acquiring an additional 280,997 shares during the period. Pacer Advisors Inc. owned about 1.57% of Snap-on worth $216,815,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of Snap-on in the fourth quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Snap-on during the 2nd quarter worth about $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the 2nd quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new stake in shares of Snap-on in the first quarter valued at about $56,000. Finally, Versant Capital Management Inc raised its holdings in Snap-on by 529.0% during the second quarter. Versant Capital Management Inc now owns 195 shares of the company's stock worth $51,000 after acquiring an additional 164 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Transactions at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP June C. Lemerand sold 1,186 shares of the company's stock in a transaction dated 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 directly owns 2,283 shares in the company, valued at $648,303.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The disclosure for this sale can be found here. Insiders sold a total of 29,804 shares of company stock worth $8,077,390 over the last quarter. Company insiders own 4.10% of the company's stock.

Snap-on Stock Performance

SNA traded down $2.92 during trading hours on Friday, reaching $283.19. The company's stock had a trading volume of 532,402 shares, compared to its average volume of 290,896. The company's 50-day moving average is $277.23 and its 200-day moving average is $276.64. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49. The firm has a market cap of $14.93 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company's revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.89 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on announced that its Board of Directors has initiated a share buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.63%. Snap-on's dividend payout ratio (DPR) is presently 39.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNA shares. Roth Mkm restated a "buy" rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird lowered their target price on shares of Snap-on from $282.00 to $275.00 and set a "neutral" rating on the stock in a report on Friday, July 12th. Barrington Research reiterated an "outperform" rating and issued a $325.00 price target on shares of Snap-on in a research note on Friday. Finally, Tigress Financial restated a "buy" rating and set a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $315.00.

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.