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

Snap-on Incorporated (NYSE:SNA) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders 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 increased 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NYSE:SNA opened at $339.73 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 capitalization of $17.84 billion, a P/E ratio of 17.42, a PEG ratio of 2.13 and a beta of 0.99. The firm has a fifty day simple moving average of $345.73 and a two-hundred day simple moving average of $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 (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 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 previous year, the company posted $4.75 earnings per share. On average, analysts expect that Snap-on will post 20.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNA. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday. Roth Mkm raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America raised their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Finally, Robert W. Baird raised their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $345.40.

Insider Activity at Snap-on

In related news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,643 shares of company stock worth $13,580,191 in the last 90 days. 4.10% of the stock is owned by corporate 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.