Snap-on Incorporated (NYSE:SNA) Plans Dividend Increase – $1.08 Per Share

Snap-on Incorporated (NYSE:SNA) declared a quarterly dividend on Friday, November 8th, RTT News reports. Stockholders of record on Wednesday, November 20th will be paid a dividend of 1.08 per share on Tuesday, December 10th. This represents a $4.32 annualized dividend and a dividend yield of 2.59%. This is a positive change from Snap-on’s previous quarterly dividend of $0.95.

Shares of SNA stock opened at $166.94 on Friday. Snap-on has a 12-month low of $135.29 and a 12-month high of $174.00. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $159.44 and a 200-day moving average of $158.51.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The company had revenue of $901.80 million during the quarter, compared to analyst estimates of $909.23 million. During the same quarter in the previous year, the business earned $2.88 EPS. The firm’s revenue was up .4% on a year-over-year basis. Research analysts expect that Snap-on will post 12.26 earnings per share for the current year.

In related news, CEO Nicholas T. Pinchuk sold 19,675 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $155.46, for a total value of $3,058,675.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Iain Boyd sold 777 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $165.00, for a total transaction of $128,205.00. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

SNA has been the subject of several research analyst reports. Robert W. Baird reissued a “hold” rating and issued a $169.00 price target on shares of Snap-on in a report on Friday, October 18th. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Tigress Financial reissued a “buy” rating on shares of Snap-on in a report on Friday, October 25th. Oppenheimer set a $180.00 price target on shares of Snap-on and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $185.00 target price on shares of Snap-on in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Snap-on has an average rating of “Hold” and an average price target of $173.60.

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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Dividend History for Snap-on (NYSE:SNA)

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