Oppenheimer Asset Management Inc. Sells 1,493 Shares of Snap-on Incorporated (NYSE:SNA)

Oppenheimer Asset Management Inc. reduced its position in Snap-on Incorporated (NYSE:SNA) by 10.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,417 shares of the company’s stock after selling 1,493 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Snap-on were worth $4,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. raised its stake in shares of Snap-on by 2.4% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 21,264 shares of the company’s stock worth $7,219,000 after purchasing an additional 500 shares during the last quarter. New York Life Investment Management LLC raised its position in Snap-on by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after buying an additional 31 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in Snap-on by 3.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 14,480 shares of the company’s stock valued at $4,916,000 after acquiring an additional 425 shares during the period. Denali Advisors LLC purchased a new stake in shares of Snap-on during the 4th quarter valued at about $852,000. Finally, Amalgamated Bank grew its stake in shares of Snap-on by 1.6% in the fourth quarter. Amalgamated Bank now owns 11,149 shares of the company’s stock worth $3,785,000 after acquiring an additional 180 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-on Trading Up 1.2 %

Snap-on stock opened at $341.00 on Friday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company 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. 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 business has a 50-day simple moving average of $343.25 and a two-hundred day simple moving average of $325.92.

Snap-on (NYSE:SNA) last announced its earnings results 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 last year, the business earned $4.75 earnings per share. Analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

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

Insider Buying and Selling

In related news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,503 shares of company stock valued at $15,906,074. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.