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

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 dividend on an annualized basis and a dividend yield of 2.52%.

Snap-on has raised its dividend by an average of 14.7% annually over the last three years and has increased its dividend every year for the last 15 years. Snap-on has a dividend payout ratio of 38.5% 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 Stock Up 1.4 %

Shares of Snap-on stock opened at $339.73 on Friday. The firm’s 50 day moving average price is $345.73 and its 200-day moving average price is $320.72. 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 has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a market cap of $17.84 billion, a P/E ratio of 17.42, a PEG ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the company posted $4.75 EPS. On average, sell-side analysts predict that Snap-on will post 20.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNA has been the topic of a number of analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday. Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Finally, Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $345.40.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

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.