Oppenheimer Asset Management Inc. Buys 200 Shares of Snap-On Incorporated (NYSE:SNA)

Oppenheimer Asset Management Inc. lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,617 shares of the company’s stock after acquiring an additional 200 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Snap-On were worth $4,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Snap-On in the 4th quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Snap-On in the first quarter valued at about $35,000. CoreFirst Bank & Trust acquired a new position in shares of Snap-On during the fourth quarter worth about $40,000. TCTC Holdings LLC grew its holdings in shares of Snap-On by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after buying an additional 43 shares in the last quarter. Finally, ORG Partners LLC raised its position in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company’s stock valued at $54,000 after buying an additional 95 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Down 0.3%

NYSE SNA opened at $307.40 on Thursday. Snap-On Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $315.74 and a 200-day moving average of $331.13. The company has a market cap of $16.07 billion, a PE ratio of 16.09, a PEG ratio of 2.20 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $4.91 EPS. On average, equities research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.78%. Snap-On’s dividend payout ratio (DPR) is currently 44.82%.

Wall Street Analyst Weigh In

SNA has been the subject of a number of recent research reports. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Tigress Financial increased their target price on shares of Snap-On from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Robert W. Baird cut their price target on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Finally, Longbow Research upgraded shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $350.83.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer now owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director now owns 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,815 shares of company stock worth $9,482,532. Company insiders own 3.90% of the company’s stock.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.