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

Snap-on Incorporated (NYSE:SNA) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Stockholders 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 dividend yield of 2.75%.

Snap-on has raised its dividend payment by an average of 14.6% per year over the last three years and has increased its dividend every year for the last 14 years.

Snap-on Stock Performance

SNA stock traded down $3.43 on Thursday, hitting $270.16. The company’s stock had a trading volume of 261,208 shares, compared to its average volume of 314,738. The firm has a 50 day moving average of $284.19 and a two-hundred day moving average of $278.72. Snap-on has a 1 year low of $247.68 and a 1 year high of $298.49. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. Snap-on’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that Snap-on will post 19.04 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value 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 approximately $213,420,264.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock valued at $13,399,449 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

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.