Reinhart Partners LLC. Sells 999 Shares of Snap-on Incorporated (NYSE:SNA)

Reinhart Partners LLC. lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,493 shares of the company's stock after selling 999 shares during the period. Reinhart Partners LLC.'s holdings in Snap-on were worth $4,547,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mather Group LLC. raised its position in shares of Snap-on by 17.9% during the fourth quarter. Mather Group LLC. now owns 330 shares of the company's stock worth $112,000 after acquiring an additional 50 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Snap-on by 19.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,401 shares of the company's stock valued at $14,910,000 after purchasing an additional 7,149 shares during the period. Bleakley Financial Group LLC bought a new position in Snap-on during the 4th quarter worth approximately $512,000. Strategic Financial Concepts LLC acquired a new position in shares of Snap-on in the 4th quarter worth approximately $5,647,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Snap-on in the 4th quarter valued at $28,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNA. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. 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. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. Robert W. Baird lowered their target price on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Wall Street Zen upgraded Snap-on from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $350.83.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares of the company's stock, valued at $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,515 shares of company stock worth $17,094,296. Corporate insiders own 3.90% of the company's stock.

Snap-on Stock Up 0.9%

Shares of SNA traded up $2.89 during trading hours on Friday, hitting $321.91. The stock had a trading volume of 207,661 shares, compared to its average volume of 365,837. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The firm has a market capitalization of $16.83 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The firm has a 50 day simple moving average of $319.41 and a 200-day simple moving average of $335.77. 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 (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the business posted $4.91 EPS. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is currently 44.82%.

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.