Oppenheimer & Co. Inc. Acquires 966 Shares of Snap-On Incorporated (NYSE:SNA)

Oppenheimer & Co. Inc. raised its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,556 shares of the company's stock after acquiring an additional 966 shares during the period. Oppenheimer & Co. Inc.'s holdings in Snap-On were worth $6,591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its stake in shares of Snap-On by 1.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 12,617 shares of the company's stock worth $4,252,000 after acquiring an additional 200 shares during the last quarter. Three Cord True Wealth Management LLC bought a new position in shares of Snap-On during the first quarter valued at $205,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Snap-On by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,982 shares of the company's stock valued at $5,386,000 after purchasing an additional 689 shares in the last quarter. Absher Wealth Management LLC lifted its holdings in shares of Snap-On by 7.6% during the first quarter. Absher Wealth Management LLC now owns 76,207 shares of the company's stock valued at $25,683,000 after purchasing an additional 5,398 shares in the last quarter. Finally, Cottage Street Advisors LLC lifted its holdings in shares of Snap-On by 111.4% during the first quarter. Cottage Street Advisors LLC now owns 10,028 shares of the company's stock valued at $3,380,000 after purchasing an additional 5,284 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNA. Tigress Financial upped their price target on Snap-On from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. Robert W. Baird lowered their price target on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Monday, May 19th. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Snap-On has an average rating of "Moderate Buy" and a consensus price target of $350.83.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer now owns 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,515 shares of company stock worth $17,094,296 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Stock Performance

SNA stock traded up $0.42 during trading on Tuesday, reaching $308.75. The stock had a trading volume of 344,260 shares, compared to its average volume of 369,095. Snap-On Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The stock's 50 day moving average is $316.23 and its two-hundred day moving average is $331.29. 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 firm has a market cap of $16.14 billion, a PE ratio of 16.16, a PEG ratio of 2.20 and a beta of 0.78.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share 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 the consensus estimate of $1.20 billion. During the same period in the prior year, the company posted $4.91 EPS. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Tuesday, May 20th. Snap-On's payout ratio is 44.82%.

Snap-On 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.