Oppenheimer & Co. Inc. Grows Stock Position in Snap-On Incorporated (NYSE:SNA)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its stake in Snap-On by 1.6% during 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 in the last quarter. Three Cord True Wealth Management LLC acquired a new position in shares of Snap-On during the first quarter valued at about $205,000. Cambridge Investment Research Advisors Inc. raised 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 during the period. Absher Wealth Management LLC boosted its position in shares of Snap-On by 7.6% during the 1st quarter. Absher Wealth Management LLC now owns 76,207 shares of the company's stock worth $25,683,000 after purchasing an additional 5,398 shares in the last quarter. Finally, Cottage Street Advisors LLC grew its stake in shares of Snap-On by 111.4% in the 1st quarter. Cottage Street Advisors LLC now owns 10,028 shares of the company's stock valued at $3,380,000 after buying an additional 5,284 shares during the period. Institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer now owns 804,510 shares in the company, valued at $254,104,483.50. This represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director now owns 8,030 shares in the company, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,815 shares of company stock valued at $9,482,532. Corporate insiders own 3.90% of the company's stock.

Snap-On Stock Up 0.4%

Shares of NYSE:SNA traded up $1.22 during mid-day trading on Friday, hitting $310.77. 412,908 shares of the company traded hands, compared to its average volume of 369,620. The stock has a 50-day moving average price of $315.83 and a two-hundred day moving average price of $330.82. Snap-On Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The stock has a market cap of $16.25 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.19 and a beta of 0.78. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the prior year, the firm earned $4.91 earnings per share. On average, equities research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently disclosed 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 2.75%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's payout ratio is 44.82%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of research reports. Robert W. Baird dropped their price target on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. 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 Snap-On from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Longbow Research raised shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Monday, March 31st. Finally, Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Snap-On has an average rating of "Moderate Buy" and a consensus price target of $350.83.

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.