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

Reinhart Partners LLC. reduced its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at $28,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-on in the fourth quarter valued at $40,000. TCTC Holdings LLC increased its stake in shares of Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after buying an additional 43 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new stake in shares of Snap-on in the fourth quarter valued at $61,000. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 5,553 shares of the business'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 in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction that occurred 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 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 represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,515 shares of company stock worth $17,094,296. 3.90% of the stock is currently owned by company insiders.

Snap-on Trading Up 0.4%

SNA stock traded up $1.25 during midday trading on Tuesday, reaching $322.01. The stock had a trading volume of 242,505 shares, compared to its average volume of 365,671. The business has a fifty day simple moving average of $318.87 and a two-hundred day simple moving average of $335.18. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the business earned $4.91 earnings per share. As a group, research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.66%. Snap-on's payout ratio is currently 44.82%.

Wall Street Analysts Forecast Growth

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

About Snap-on

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.