Snap-on Incorporated (NYSE:SNA – Get Rating) announced a quarterly dividend on Thursday, April 28th, RTT News reports. Shareholders of record on Friday, May 20th will be paid a dividend of 1.42 per share on Friday, June 10th. This represents a $5.68 dividend on an annualized basis and a yield of 2.58%.
Snap-on has raised its dividend by an average of 14.4% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Snap-on has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Snap-on to earn $16.37 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 34.7%.
Shares of NYSE SNA opened at $220.24 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 3.16. The company has a market cap of $11.76 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.89 and a beta of 1.19. The firm’s fifty day moving average is $210.84 and its two-hundred day moving average is $212.64. Snap-on has a 52-week low of $197.75 and a 52-week high of $259.99.
Several hedge funds have recently added to or reduced their stakes in SNA. Advisors Asset Management Inc. boosted its stake in shares of Snap-on by 38.5% during the 4th quarter. Advisors Asset Management Inc. now owns 13,206 shares of the company’s stock worth $2,844,000 after purchasing an additional 3,673 shares during the period. Metropolitan Life Insurance Co NY boosted its position in Snap-on by 16.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,132 shares of the company’s stock valued at $1,321,000 after buying an additional 858 shares during the period. NEXT Financial Group Inc boosted its position in Snap-on by 107.8% in the 4th quarter. NEXT Financial Group Inc now owns 212 shares of the company’s stock valued at $45,000 after buying an additional 110 shares during the period. Integrated Wealth Concepts LLC boosted its position in Snap-on by 17.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 1,617 shares of the company’s stock valued at $348,000 after buying an additional 238 shares during the period. Finally, Allstate Corp boosted its position in Snap-on by 1.4% in the 4th quarter. Allstate Corp now owns 6,382 shares of the company’s stock valued at $1,375,000 after buying an additional 86 shares during the period. 87.74% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on SNA. Robert W. Baird boosted their target price on shares of Snap-on from $240.00 to $242.00 in a report on Friday, February 4th. Tigress Financial boosted their target price on shares of Snap-on from $295.00 to $298.00 and gave the stock a “buy” rating in a report on Monday. Finally, StockNews.com started coverage on shares of Snap-on in a report on Thursday, March 31st. They issued a “buy” rating on the stock. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $251.25.
Snap-on Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Snap-on (SNA)
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