Snap-On Incorporated (NYSE:SNA) Plans Quarterly Dividend of $2.44

Snap-On Incorporated (NYSE:SNA) declared a quarterly dividend on Thursday, November 6th. Shareholders of record on Friday, November 21st will be given a dividend of 2.44 per share on Wednesday, December 10th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. This is a 14.0% increase from Snap-On’s previous quarterly dividend of $2.14.

Snap-On has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 15 years. Snap-On has a payout ratio of 42.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Snap-On to earn $21.14 per share next year, which means the company should continue to be able to cover its $8.56 annual dividend with an expected future payout ratio of 40.5%.

Snap-On Price Performance

Shares of SNA stock traded up $1.42 during trading hours on Friday, hitting $342.77. The company’s stock had a trading volume of 65,785 shares, compared to its average volume of 364,970. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $336.94 and a 200-day moving average of $325.62. Snap-On has a twelve month low of $289.81 and a twelve month high of $373.89. The stock has a market cap of $17.83 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 2.33 and a beta of 0.81.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.70 EPS. As a group, equities research analysts anticipate that Snap-On will post 19.79 EPS for the current year.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snap-On

A number of institutional investors and hedge funds have recently bought and sold shares of SNA. OneDigital Investment Advisors LLC lifted its position in shares of Snap-On by 26.4% during the first quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company’s stock worth $292,000 after purchasing an additional 181 shares in the last quarter. World Investment Advisors increased its stake in Snap-On by 27.6% during the 1st quarter. World Investment Advisors now owns 948 shares of the company’s stock worth $319,000 after buying an additional 205 shares during the period. Rehmann Capital Advisory Group lifted its holdings in Snap-On by 6.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,297 shares of the company’s stock worth $437,000 after buying an additional 84 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Snap-On by 57.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 12,263 shares of the company’s stock valued at $4,133,000 after buying an additional 4,476 shares during the last quarter. Finally, Vision Capital Management Inc. grew its stake in shares of Snap-On by 1.1% during the first quarter. Vision Capital Management Inc. now owns 16,646 shares of the company’s stock valued at $5,610,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.