Snap-On Incorporated $SNA Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 27.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,477 shares of the company’s stock after selling 3,194 shares during the quarter. Reinhart Partners LLC.’s holdings in Snap-On were worth $2,921,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after purchasing an additional 31,073 shares during the period. State Street Corp grew its holdings in shares of Snap-On by 1.6% in the third quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after purchasing an additional 36,130 shares during the period. First Trust Advisors LP grew its holdings in shares of Snap-On by 1.3% in the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after purchasing an additional 23,863 shares during the period. Nordea Investment Management AB grew its holdings in shares of Snap-On by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Snap-On by 2.0% in the third quarter. Bank of America Corp DE now owns 933,495 shares of the company’s stock valued at $323,484,000 after purchasing an additional 18,549 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Up 1.6%

Shares of SNA stock opened at $372.40 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The firm has a market cap of $19.29 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.58 and a beta of 0.73. The company has a 50-day moving average of $371.41 and a two-hundred day moving average of $364.32. Snap-On Incorporated has a 1-year low of $301.82 and a 1-year high of $400.88.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $4.51 EPS. On average, analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On declared that its board has approved a stock buyback plan on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the transaction, the chief financial officer owned 119,488 shares of the company’s stock, valued at $43,874,798.72. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Tigress Financial upped their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Robert W. Baird upped their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Roth Mkm reissued a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

Snap-On Company Profile

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.