Reinhart Partners Inc. Trims Stock Position in Snap-on Incorporated (NYSE:SNA)

Reinhart Partners Inc. lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 167,750 shares of the company’s stock after selling 2,726 shares during the quarter. Snap-on comprises 2.4% of Reinhart Partners Inc.’s investment portfolio, making the stock its 13th biggest holding. Reinhart Partners Inc.’s holdings in Snap-on were worth $26,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Snap-on in the second quarter valued at about $35,000. Motco purchased a new stake in shares of Snap-on in the second quarter valued at about $37,000. KCS Wealth Advisory purchased a new stake in shares of Snap-on in the third quarter valued at about $37,000. Venturi Wealth Management LLC acquired a new position in shares of Snap-on in the third quarter valued at approximately $42,000. Finally, CSat Investment Advisory L.P. raised its position in shares of Snap-on by 34.0% in the second quarter. CSat Investment Advisory L.P. now owns 280 shares of the company’s stock valued at $47,000 after buying an additional 71 shares during the last quarter.

In related news, CEO Nicholas T. Pinchuk sold 19,675 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $155.46, for a total transaction of $3,058,675.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Iain Boyd sold 777 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $165.00, for a total transaction of $128,205.00. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Shares of NYSE:SNA traded down $0.03 during trading on Friday, reaching $166.94. The stock had a trading volume of 490,836 shares, compared to its average volume of 518,672. The business has a fifty day moving average price of $159.44 and a 200-day moving average price of $158.51. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.30. The stock has a market cap of $9.22 billion, a P/E ratio of 14.14, a PEG ratio of 1.61 and a beta of 1.24. Snap-on Incorporated has a fifty-two week low of $135.29 and a fifty-two week high of $174.00.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.02. The business had revenue of $901.80 million during the quarter, compared to analyst estimates of $909.23 million. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 earnings per share. As a group, equities analysts forecast that Snap-on Incorporated will post 12.26 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.08 per share. This is a positive change from Snap-on’s previous quarterly dividend of $0.95. This represents a $4.32 annualized dividend and a yield of 2.59%. Snap-on’s dividend payout ratio is 32.18%.

A number of equities analysts have recently weighed in on the stock. Tigress Financial reissued a “buy” rating on shares of Snap-on in a research report on Friday, October 25th. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Barrington Research reissued a “buy” rating and issued a $185.00 price objective on shares of Snap-on in a research report on Thursday, October 17th. Oppenheimer set a $180.00 price objective on shares of Snap-on and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price objective for the company. in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Snap-on has an average rating of “Hold” and a consensus price target of $173.60.

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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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