Snap-on Incorporated (NYSE:SNA) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 4.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,590 shares of the company’s stock after selling 820 shares during the period. Oppenheimer & Co. Inc.’s holdings in Snap-on were worth $6,311,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNA. Benjamin Edwards Inc. lifted its holdings in shares of Snap-on by 2,691.2% during the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares during the period. Bryn Mawr Capital Management LLC lifted its holdings in shares of Snap-on by 706.3% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company’s stock worth $38,474,000 after purchasing an additional 99,276 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after purchasing an additional 80,421 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Snap-on by 9.4% during the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after purchasing an additional 78,184 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Up 1.2 %

Shares of SNA stock opened at $341.00 on Friday. The stock has a 50 day moving average of $343.30 and a 200 day moving average of $325.04. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.87 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

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

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock worth $15,906,074 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

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.