Snap-on Incorporated (NYSE:SNA) announced a quarterly dividend on Thursday, February 15th, RTT News reports. Stockholders of record on Friday, March 2nd will be given a dividend of 0.82 per share on Friday, March 16th. This represents a $3.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, March 1st.
Snap-on has raised its dividend payment by an average of 16.8% per year over the last three years and has increased its dividend every year for the last 8 years. Snap-on has a dividend payout ratio of 32.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Snap-on to earn $12.45 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 26.3%.
Shares of Snap-on (SNA) opened at $160.22 on Friday. Snap-on has a 52-week low of $140.83 and a 52-week high of $185.47. The company has a market cap of $9,063.46, a PE ratio of 16.83, a PEG ratio of 1.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.78.
Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.03. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The firm had revenue of $974.60 million during the quarter, compared to analyst estimates of $940.50 million. During the same quarter in the prior year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. sell-side analysts expect that Snap-on will post 11.48 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on SNA shares. Zacks Investment Research downgraded Snap-on from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Robert W. Baird reiterated a “buy” rating and set a $220.00 price objective (up from $184.00) on shares of Snap-on in a research note on Monday, January 29th. They noted that the move was a valuation call. B. Riley reiterated a “buy” rating and set a $205.00 price objective on shares of Snap-on in a research note on Thursday, January 4th. Finally, Jefferies Group reiterated a “hold” rating and set a $175.00 price objective on shares of Snap-on in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Snap-on currently has an average rating of “Buy” and a consensus target price of $192.00.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 20,680 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Dudley Lehman sold 387 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $160.60, for a total value of $62,152.20. Following the completion of the transaction, the director now owns 8,376 shares of the company’s stock, valued at $1,345,185.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,355 shares of company stock valued at $8,660,560. 3.70% of the stock is currently owned by corporate insiders.
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Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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