Snap-on Incorporated to Issue Quarterly Dividend of $2.14 (NYSE:SNA)

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 paid a dividend of 2.14 per share on Monday, March 10th. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, February 24th.

Snap-on has raised its dividend payment by an average of 14.7% per year 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. Equities analysts expect Snap-on to earn $21.14 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 40.5%.

Snap-on Trading Down 0.8 %

Shares of NYSE:SNA opened at $335.87 on Friday. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 17.22, a PEG 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 moving average price of $343.79 and a 200-day moving average price of $323.21.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (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 period in the previous year, the business earned $4.75 earnings per share. Equities analysts predict that Snap-on will post 19.79 EPS for the current year.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s 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 approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,503 shares of company stock valued at $15,906,074 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of several analyst reports. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.