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

Snap-on Incorporated (NYSE:SNA - Get Free Report) 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 yield of 2.52%. The ex-dividend date of this dividend is Monday, February 24th.

Snap-on has increased its dividend by an average of 14.7% per year 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 40.2% 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 Down 0.2 %

NYSE:SNA traded down $0.61 during midday trading on Monday, reaching $339.12. 330,511 shares of the stock traded hands, compared to its average volume of 395,688. Snap-on has a 12-month low of $252.98 and a 12-month high of $373.89. The business has a 50-day moving average of $345.36 and a two-hundred day moving average of $321.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15. The stock has a market capitalization of $17.81 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating 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 quarter in the previous year, the business earned $4.75 earnings per share. On average, equities analysts forecast that Snap-on will post 20.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares of the company's stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the business's stock in a transaction that occurred on 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 directly owns 2,289 shares in the company, valued at $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 38,643 shares of company stock valued at $13,580,191 over the last ninety days. Company insiders own 4.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Roth Mkm raised their price target 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. Barrington Research reiterated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Finally, Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of "Hold" and an average price target of $345.40.

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.