Oppenheimer & Co. Inc. Lowers Position in Snap-on Incorporated (NYSE:SNA)

Oppenheimer & Co. Inc. cut its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,590 shares of the company's stock after selling 820 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Snap-on were worth $6,311,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC acquired a new stake in shares of Snap-on during the 4th quarter valued at about $512,000. Vest Financial LLC grew its holdings in Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company's stock valued at $34,962,000 after purchasing an additional 2,460 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock valued at $5,764,000 after buying an additional 67 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Snap-on by 3.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock worth $13,264,000 after buying an additional 1,605 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Snap-on during the 3rd quarter valued at approximately $19,291,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SNA shares. Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $346.40.

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Snap-on Price Performance

Shares of Snap-on stock traded down $1.43 during trading hours on Tuesday, reaching $332.65. 179,161 shares of the company's stock were exchanged, compared to its average volume of 382,073. The business has a fifty day moving average of $343.03 and a two-hundred day moving average of $326.70. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.43 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the firm posted $4.75 earnings per share. As a group, research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.57%. Snap-on's payout ratio is 43.90%.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company's stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,503 shares of company stock valued at $15,906,074. Insiders own 4.10% of the company's stock.

Snap-on Company 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.