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

Pacer Advisors Inc. grew its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 9.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 907,655 shares of the company's stock after buying an additional 78,184 shares during the period. Pacer Advisors Inc. owned approximately 1.73% of Snap-on worth $262,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aurora Investment Counsel lifted its holdings in Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company's stock worth $1,028,000 after buying an additional 30 shares during the period. Commerce Bank grew its holdings in Snap-on by 1.3% in the third quarter. Commerce Bank now owns 3,234 shares of the company's stock worth $937,000 after purchasing an additional 43 shares during the last quarter. Strategy Asset Managers LLC purchased a new stake in shares of Snap-on during the 3rd quarter valued at $209,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Snap-on in the third quarter worth about $313,000. Finally, SouthState Corp grew its stake in shares of Snap-on by 0.8% during the third quarter. SouthState Corp now owns 21,804 shares of the company's stock worth $6,317,000 after acquiring an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-on 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 completion of the transaction, the vice president now directly owns 2,283 shares of the company's stock, valued at $648,303.51. This represents a 34.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,717 shares of company stock valued at $6,965,480. Company insiders own 4.10% of the company's stock.

Snap-on Stock Up 1.6 %

Shares of NYSE:SNA traded up $5.68 on Thursday, hitting $361.40. 354,023 shares of the company's stock were exchanged, compared to its average volume of 310,001. The firm's 50-day moving average is $314.25 and its 200 day moving average is $286.92. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $365.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a market capitalization of $18.98 billion, a PE ratio of 18.57, a P/E/G ratio of 2.35 and a beta of 0.96.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Sell-side analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

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

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a $2.14 dividend. This is an increase from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.37%. Snap-on's payout ratio is presently 38.29%.

Wall Street Analysts Forecast Growth

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

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.