Reinhart Partners Inc. lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,750 shares of the company’s stock after selling 2,726 shares during the period. Snap-on makes up approximately 2.4% of Reinhart Partners Inc.’s portfolio, making the stock its 13th largest position. Reinhart Partners Inc. owned about 0.31% of Snap-on worth $26,260,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management boosted its position in Snap-on by 0.9% in the 2nd quarter. Cardinal Capital Management now owns 7,286 shares of the company’s stock valued at $1,207,000 after buying an additional 63 shares during the period. CSat Investment Advisory L.P. boosted its position in Snap-on by 34.0% in the 2nd 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 period. Raymond James Trust N.A. boosted its position in Snap-on by 3.6% in the 3rd quarter. Raymond James Trust N.A. now owns 2,382 shares of the company’s stock valued at $373,000 after buying an additional 83 shares during the period. Albert D Mason Inc. boosted its position in Snap-on by 0.9% in the 3rd quarter. Albert D Mason Inc. now owns 10,390 shares of the company’s stock valued at $1,626,000 after buying an additional 90 shares during the period. Finally, Montag & Caldwell LLC boosted its position in Snap-on by 6.8% in the 3rd quarter. Montag & Caldwell LLC now owns 1,531 shares of the company’s stock valued at $240,000 after buying an additional 98 shares during the period.
Shares of SNA traded down $0.03 during midday trading on Friday, reaching $166.94. The stock had a trading volume of 490,836 shares, compared to its average volume of 518,672. Snap-on Incorporated has a 1-year low of $135.29 and a 1-year high of $174.00. The company’s fifty day simple moving average is $159.44 and its two-hundred day simple moving average is $158.51. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.61.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $2.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The firm had revenue of $901.80 million for the quarter, compared to analyst estimates of $909.23 million. During the same period last year, the business earned $2.88 EPS. Snap-on’s revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts forecast that Snap-on Incorporated will post 12.26 earnings per share 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 paid 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 (DPR) is currently 32.18%.
SNA has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price objective on the stock. in a report on Tuesday, July 16th. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Barrington Research restated a “buy” rating and issued a $185.00 price objective on shares of Snap-on in a report on Thursday, October 17th. Robert W. Baird restated a “hold” rating and issued a $169.00 price objective on shares of Snap-on in a report on Friday, October 18th. Finally, Tigress Financial restated a “buy” rating on shares of Snap-on in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Snap-on has a consensus rating of “Hold” and a consensus target price of $173.60.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 19,675 shares of Snap-on stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $155.46, for a total value of $3,058,675.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Iain Boyd sold 777 shares of Snap-on stock in a transaction on Wednesday, October 23rd. The shares were 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. 3.90% of the stock is owned by company insiders.
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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