Snap-on Incorporated (NYSE:SNA) Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. trimmed its stake in shares of Snap-on Incorporated (NYSE:SNA) by 6.9% during the 1st quarter, Holdings Channel reports. The fund owned 13,493 shares of the company’s stock after selling 999 shares during the quarter. Reinhart Partners LLC.’s holdings in Snap-on were worth $4,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Snap-on by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after acquiring an additional 19,328 shares during the period. First Trust Advisors LP grew its holdings in Snap-on by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock valued at $617,651,000 after purchasing an additional 411,317 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after purchasing an additional 77,486 shares during the period. Geode Capital Management LLC grew its holdings in Snap-on by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock valued at $556,022,000 after purchasing an additional 27,700 shares during the period. Finally, Earnest Partners LLC grew its holdings in Snap-on by 1.9% in the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company’s stock valued at $327,213,000 after purchasing an additional 18,209 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, May 19th. Robert W. Baird dropped their price objective on Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. Finally, Wall Street Zen raised Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Snap-on currently has an average rating of “Moderate Buy” and a consensus price target of $350.83.

Insider Transactions at Snap-on

In related news, Director Karen L. Daniel sold 1,090 shares of Snap-on stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the transaction, the director now directly owns 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,515 shares of company stock valued at $17,094,296. 3.90% of the stock is currently owned by insiders.

Snap-on Trading Up 0.9%

NYSE:SNA opened at $321.91 on Friday. The business’s 50-day moving average is $319.41 and its two-hundred day moving average is $335.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The firm has a market capitalization of $16.83 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm posted $4.91 earnings per share. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Tuesday, May 20th. Snap-on’s payout ratio is 44.82%.

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.