Snap-on Incorporated (NYSE:SNA) announced a quarterly dividend on Friday, February 15th, Wall Street Journal reports. Stockholders of record on Monday, February 25th will be paid a dividend of 0.95 per share on Monday, March 11th. This represents a $3.80 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, February 22nd.
Snap-on has increased its dividend by an average of 15.7% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Snap-on has a payout ratio of 32.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Snap-on to earn $13.17 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 28.9%.
Shares of SNA stock opened at $159.83 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.85 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34. Snap-on has a 52 week low of $135.29 and a 52 week high of $189.46.
Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 7th. The company reported $3.03 EPS for the quarter, hitting the consensus estimate of $3.03. The company had revenue of $952.50 million for the quarter, compared to analysts’ expectations of $968.74 million. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.69 earnings per share. As a group, equities analysts predict that Snap-on will post 12.33 EPS for the current year.
In related news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $140.80, for a total value of $3,158,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Dudley Lehman sold 387 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $157.19, for a total value of $60,832.53. Following the completion of the transaction, the director now owns 9,996 shares in the company, valued at approximately $1,571,271.24. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
Several analysts have recently commented on the company. Zacks Investment Research upgraded Snap-on from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. TheStreet cut Snap-on from a “b” rating to a “c+” rating in a report on Wednesday, December 19th. Finally, Bank of America assumed coverage on Snap-on in a report on Friday, December 21st. They issued a “buy” rating and a $165.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $190.33.
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Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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