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

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 given 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 2.55%. The ex-dividend date is Monday, February 24th.

Snap-on has raised its dividend payment 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. Equities research 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 %

Snap-on stock opened at $335.87 on Friday. The business has a 50-day simple moving average of $343.79 and a two-hundred day simple moving average of $323.21. The company has a market cap of $17.60 billion, a P/E ratio of 17.22, a P/E/G 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. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 firm posted $4.75 EPS. Analysts predict that Snap-on will post 19.79 EPS for the current year.

Insider Activity at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated Monday, February 10th. The stock was 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. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This trade represents a 60.46 % 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 quarter. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the topic of a number of recent research reports. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial increased their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Snap-on currently has an average rating of “Hold” and an average target price of $345.40.

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.