Snap-on Incorporated (SNA) To Go Ex-Dividend on November 21st

Snap-on Incorporated (NYSE:SNA) announced a quarterly dividend on Friday, November 8th,RTT News reports. Stockholders of record on Thursday, November 21st will be paid a dividend of 2.14 per share on Tuesday, December 10th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86.

Snap-on has raised its dividend by an average of 14.6% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Snap-on has a payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Snap-on to earn $20.01 per share next year, which means the company should continue to be able to cover its $7.44 annual dividend with an expected future payout ratio of 37.2%.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $359.27 on Friday. Snap-on has a twelve month low of $252.98 and a twelve month high of $360.41. The firm has a market cap of $18.86 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The business has a fifty day moving average of $301.16 and a 200-day moving average of $281.97.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. On average, equities research analysts predict that Snap-on will post 19.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at $18,460,167.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,335 shares of company stock valued at $14,706,082 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SNA shares. Barrington Research raised their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Roth Mkm raised their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on declared that its board has initiated a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.