The press tool includes a frame, an abutment part mounted to one end of the frame, and a lever actuated ram mounted to the other end of the frame. The ram includes a pair of interchangeable fittings (one for affixing the push nuts and one for removing the push nuts). Rocker plates pivotally connect the rams to a long lever, which extends and retracts the ram through a tubular sleeve mounted to the frame. The assembly fitting includes a magnet that holds a push nut to the ram. When the lever is depressed, the ram extends and the push nut is pressed axially onto the axle rod. The removal fitting has a two pronged head. When the lever is depressed, the prongs deform the push nut flange, which bends back the teeth that secure the push nut to the axle.