Reinhart Partners LLC. Trims Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Reinhart Partners LLC. decreased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 47.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,492 shares of the company's stock after selling 13,206 shares during the quarter. Reinhart Partners LLC.'s holdings in Snap-on were worth $4,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Brookstone Capital Management grew its holdings in Snap-on by 64.0% in the fourth quarter. Brookstone Capital Management now owns 1,830 shares of the company's stock worth $621,000 after purchasing an additional 714 shares during the period. Matrix Trust Co grew its stake in shares of Snap-on by 456.0% in the 4th quarter. Matrix Trust Co now owns 278 shares of the company's stock valued at $94,000 after buying an additional 228 shares during the period. Czech National Bank increased its position in Snap-on by 6.1% in the 4th quarter. Czech National Bank now owns 11,385 shares of the company's stock valued at $3,865,000 after buying an additional 653 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Snap-on by 0.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,363 shares of the company's stock worth $9,289,000 after buying an additional 169 shares during the period. Finally, Birch Capital Management LLC boosted its holdings in Snap-on by 9.8% in the fourth quarter. Birch Capital Management LLC now owns 4,238 shares of the company's stock worth $1,439,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SNA. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Bank of America upped their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a report on Friday, October 18th. Roth Mkm lifted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Finally, Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $345.40.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now owns 3,218 shares of the company's stock, valued at $1,061,940. The trade was a 35.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,723 shares of company stock valued at $18,029,670. Insiders own 4.10% of the company's stock.

Snap-on Stock Up 2.1 %

Shares of NYSE SNA traded up $6.97 during trading on Monday, hitting $339.50. The stock had a trading volume of 407,407 shares, compared to its average volume of 353,258. The firm has a fifty day moving average of $351.60 and a two-hundred day moving average of $307.74. The company has a market capitalization of $17.83 billion, a PE ratio of 17.47, a PEG ratio of 2.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is a positive change from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, November 21st. Snap-on's dividend payout ratio (DPR) is 44.06%.

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.