Snap-On Incorporated (NYSE:SNA) Plans $2.44 Quarterly Dividend

Snap-On Incorporated (NYSE:SNA) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, August 19th will be paid a dividend of 2.44 per share on Thursday, September 10th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 19th.

Snap-On has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 15 years. Snap-On has a payout ratio of 48.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Snap-On to earn $21.13 per share next year, which means the company should continue to be able to cover its $9.76 annual dividend with an expected future payout ratio of 46.2%.

Snap-On Stock Down 1.0%

Shares of SNA opened at $414.70 on Friday. The company has a market capitalization of $21.45 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.95 and a beta of 0.73. Snap-On has a 52 week low of $319.20 and a 52 week high of $423.02. The stock’s 50-day moving average price is $398.01 and its 200-day moving average price is $381.99. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.Snap-On’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.72 EPS. On average, sell-side analysts predict that Snap-On will post 19.7 EPS for the current year.

Insider Activity

In other news, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the sale, the vice president directly owned 4,529 shares of the company’s stock, valued at $1,838,411.68. This trade represents a 30.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the sale, the senior vice president owned 21,223 shares in the company, valued at $8,900,077.28. The trade was a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,221 shares of company stock worth $9,196,355 in the last three months. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Snap-On

Institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On during the 4th quarter valued at $25,000. DV Equities LLC acquired a new stake in shares of Snap-On during the fourth quarter valued at $25,000. Western Wealth Management LLC acquired a new stake in shares of Snap-On during the first quarter valued at $29,000. Montag A & Associates Inc. raised its stake in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC purchased a new position in Snap-On in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.