Snap-on Incorporated to Issue Quarterly Dividend of $1.42 (NYSE:SNA)

Snap-on Incorporated (NYSE:SNAGet 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.

Snap-on (NYSE:SNAGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.34. Snap-on had a net margin of 19.54% and a return on equity of 20.34%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $3.50 EPS. Snap-on’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Snap-on will post 15.57 EPS for the current fiscal year.

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.

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Dividend History for Snap-on (NYSE:SNA)

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