Pacer Advisors Inc. Sells 156,255 Shares of Snap-on Incorporated (NYSE:SNA)

Pacer Advisors Inc. trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 17.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 751,400 shares of the company’s stock after selling 156,255 shares during the quarter. Pacer Advisors Inc.’s holdings in Snap-on were worth $255,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its stake in shares of Snap-on by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after acquiring an additional 67 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares in the last quarter. World Investment Advisors LLC bought a new stake in Snap-on during the third quarter valued at about $19,291,000. Avanza Fonder AB purchased a new stake in Snap-on in the fourth quarter worth about $1,936,000. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Snap-on by 220.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock worth $787,000 after buying an additional 1,869 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,192 shares of company stock valued at $11,400,978. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

SNA stock opened at $350.33 on Monday. 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’s fifty day moving average price is $350.47 and its 200-day moving average price is $314.05. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a market capitalization of $18.40 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 2.21 and a beta of 1.00.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.44%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s payout ratio is 44.06%.

Wall Street Analyst Weigh In

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

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.