Snap-On (NYSE:SNA) Hits New 1-Year High After Dividend Announcement

Shares of Snap-On Incorporated (NYSE:SNA) reached a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $389.31 and last traded at $389.57, with a volume of 32017 shares changing hands. The stock had previously closed at $382.68.

The newly announced dividend which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNA. Roth Mkm reiterated a “buy” rating and set a $409.00 price objective (up previously from $385.00) on shares of Snap-On in a research report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial boosted their target price on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, Robert W. Baird set a $375.00 target price on shares of Snap-On in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.67.

Snap-On Stock Performance

The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The company has a market cap of $19.98 billion, a P/E ratio of 20.02, a PEG ratio of 2.61 and a beta of 0.81. The business’s 50 day simple moving average is $360.42 and its 200 day simple moving average is $343.33.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company posted $4.82 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,779 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $352.20, for a total value of $2,387,563.80. Following the sale, the chief financial officer owned 111,888 shares of the company’s stock, valued at $39,406,953.60. This represents a 5.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 48,036 shares of company stock valued at $16,792,028. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-On

Several institutional investors have recently added to or reduced their stakes in SNA. Kennebec Savings Bank boosted its position in shares of Snap-On by 3.6% during the 4th quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after acquiring an additional 27 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department raised its stake in Snap-On by 5.9% during the third quarter. BankPlus Trust Department now owns 541 shares of the company’s stock valued at $187,000 after purchasing an additional 30 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Snap-On by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock valued at $2,546,000 after purchasing an additional 31 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Snap-On by 0.6% in the 4th quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.