Snap-on Incorporated (NYSE:SNA) Declares $2.14 Quarterly Dividend

Snap-on Incorporated (NYSE:SNA) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 2.14 per share on Monday, March 10th. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, February 24th.

Snap-on has raised its dividend by an average of 14.7% annually over the last three years and has raised its dividend every year for the last 15 years. Snap-on has a dividend payout ratio of 40.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Snap-on to earn $21.46 per share next year, which means the company should continue to be able to cover its $8.56 annual dividend with an expected future payout ratio of 39.9%.

Snap-on Price Performance

Shares of NYSE:SNA opened at $339.12 on Friday. The business’s 50 day simple moving average is $345.36 and its 200-day simple moving average is $321.13. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14. Snap-on has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 last year, the business posted $4.75 EPS. As a group, equities analysts forecast that Snap-on will post 20.07 earnings per share for the current fiscal year.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,643 shares of company stock worth $13,580,191 in the last ninety days. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SNA. Robert W. Baird boosted their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America lifted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. 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. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently 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.