Snap-on Incorporated (SNA) to Issue Quarterly Dividend of $2.14 on March 10th

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

Snap-on has increased 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% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.2 %

SNA opened at $339.12 on Friday. Snap-on has a 52 week low of $252.98 and a 52 week high of $373.89. The business has a fifty day simple moving average of $345.36 and a 200-day simple moving average of $321.13. The firm has a market cap of $17.81 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.13 and a beta of 0.99. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released 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 company earned $4.75 earnings per share. On average, equities analysts expect that Snap-on will post 20.07 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on SNA. Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Roth Mkm lifted their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America lifted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 value of $2,179,212.31. Following the completion of the sale, 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. Insiders have sold a total of 38,643 shares of company stock valued at $13,580,191 over the last quarter. 4.10% of the stock is currently owned by 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.