A rivet tool for setting a rivet, the rivet tool including a motor and a pulling mechanism. The pulling mechanism is configured to receive torque from the motor and includes a moveable member moveable between first and second positions. A plurality of jaws are configured to Clamp onto a mandrel of the rivet and pull the mandrel in response to the moveable member moving from the first position to the second position. A magnet is coupled for movement with the moveable member and includes a north pole face, an adjacent south pole face, and a pole junction therebetween. The north and south pole faces face away from the moveable member. A first sensor is configured to detect the pole junction when the moveable member is in the first position. A second sensor is configured to detect the pole junction when the moveable member is in the second position.