Snap-on Incorporated (NYSE:SNA) Announces Quarterly Dividend of $1.86

Snap-on Incorporated (NYSE:SNA) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Shareholders of record on Monday, May 20th will be given a dividend of 1.86 per share on Monday, June 10th. This represents a $7.44 annualized dividend and a yield of 2.75%.

Snap-on has increased its dividend payment by an average of 14.6% annually over the last three years and has increased its dividend annually for the last 14 consecutive years.

Snap-on Stock Down 1.3 %

NYSE SNA traded down $3.43 during trading on Thursday, hitting $270.16. 261,208 shares of the company traded hands, compared to its average volume of 314,738. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $284.19 and a 200 day simple moving average of $278.72. The company has a market capitalization of $14.24 billion, a P/E ratio of 14.21, a PEG ratio of 1.87 and a beta of 0.99. Snap-on has a 12 month low of $247.68 and a 12 month high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business earned $4.60 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-on will post 19.04 EPS for the current year.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNA has been the topic of a number of recent research reports. Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird decreased their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

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.