Pacer Advisors Inc. Sells 1,107 Shares of Snap-on Incorporated (NYSE:SNA)

Posted by Defense World Staff on Sep 29th, 2023

Pacer Advisors Inc. cut its stake in shares of Snap-on Incorporated (NYSE:SNA – Free Report) by 24.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,343 shares of the company’s stock after selling 1,107 shares during the period. Pacer Advisors Inc.’s holdings in Snap-on were worth $963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. Carl Stuart Investment Advisor Inc. bought a new position in shares of Snap-on in the first quarter worth approximately $208,645,000. Clear Street Markets LLC lifted its stake in Snap-on by 96.3% in the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after acquiring an additional 52 shares during the period. Ridgewood Investments LLC purchased a new stake in Snap-on in the first quarter worth $29,000. Parkside Financial Bank & Trust lifted its stake in Snap-on by 57.3% in the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after acquiring an additional 47 shares during the period. Finally, Spire Wealth Management lifted its stake in Snap-on by 50.0% in the first quarter. Spire Wealth Management now owns 144 shares of the company’s stock worth $36,000 after acquiring an additional 48 shares during the period. 83.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Monday, July 24th. CL King assumed coverage on Snap-on in a research note on Friday, July 7th. They issued a “neutral” rating for the company. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Monday, August 14th. Tigress Financial increased their price objective on Snap-on from $302.00 to $328.00 in a report on Wednesday, June 21st. Finally, StockNews.com assumed coverage on Snap-on in a report on Thursday, August 17th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $296.83.

Check Out Our Latest Stock Report on Snap-on

Snap-on Price Performance

Shares of NYSE:SNA opened at $257.64 on Friday. Snap-on Incorporated has a 1-year low of $200.75 and a 1-year high of $297.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.67 and a quick ratio of 2.58. The business has a fifty day moving average price of $265.95 and a 200-day moving average price of $261.87. The company has a market capitalization of $13.63 billion, a PE ratio of 14.27, a PEG ratio of 1.72 and a beta of 1.10.

Snap-on (NYSE:SNA – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The company reported $4.89 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.31. Snap-on had a return on equity of 21.38% and a net margin of 21.06%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $4.27 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. As a group, equities analysts expect that Snap-on Incorporated will post 18.45 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a dividend of $1.62 per share. The ex-dividend date was Thursday, August 17th. This represents a $6.48 annualized dividend and a dividend yield of 2.52%. Snap-on’s payout ratio is presently 35.90%.

Insider Activity

In other news, SVP Timothy L. Chambers sold 4,680 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $289.29, for a total transaction of $1,353,877.20. Following the completion of the transaction, the senior vice president now directly owns 12,998 shares in the company, valued at $3,760,191.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Aldo John Pagliari sold 4,842 shares of Snap-on stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $262.13, for a total value of $1,269,233.46. Following the completion of the sale, the chief financial officer now directly owns 86,888 shares in the company, valued at approximately $22,775,951.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy L. Chambers sold 4,680 shares of Snap-on stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $289.29, for a total value of $1,353,877.20. Following the completion of the sale, the senior vice president now owns 12,998 shares of the company’s stock, valued at $3,760,191.42. The disclosure for this sale can be found here. Insiders sold 40,563 shares of company stock worth $10,915,763 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Snap-on Profile

(Free Report)

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.