Reinhart Partners LLC. Has $4.92 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Reinhart Partners LLC. lowered its stake in Snap-on Incorporated (NYSE:SNA) by 47.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,492 shares of the company’s stock after selling 13,206 shares during the period. Reinhart Partners LLC.’s holdings in Snap-on were worth $4,920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNA. Reston Wealth Management LLC bought a new stake in shares of Snap-on in the 3rd quarter valued at about $30,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group bought a new stake in Snap-on in the third quarter valued at approximately $39,000. Quarry LP increased its position in Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the period. Finally, nVerses Capital LLC bought a new position in Snap-on during the 3rd quarter worth approximately $58,000. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,723 shares of company stock valued at $18,029,670. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barrington Research upped their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial upped their price target 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. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America upped their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One equities research 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, Snap-on currently has an average rating of “Hold” and an average target price of $345.40.

Snap-on Stock Up 1.5 %

NYSE:SNA traded up $4.86 during trading hours on Monday, hitting $337.39. 176,693 shares of the company traded hands, compared to its average volume of 318,432. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.72 billion, a PE ratio of 17.36, a PEG ratio of 2.35 and a beta of 1.00. The firm’s 50-day simple moving average is $351.60 and its 200-day simple moving average is $307.74.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Equities analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The firm 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. The ex-dividend date was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. Snap-on’s dividend payout ratio is currently 44.06%.

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.