Snap-On Incorporated (SNA) to Distribute Quarterly Dividend of $2.44 on September 10th

Snap-On Incorporated (NYSE:SNA) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Wednesday, August 19th will be paid a dividend of 2.44 per share on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 19th.

Snap-On has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Snap-On has a dividend payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Snap-On to earn $21.13 per share next year, which means the company should continue to be able to cover its $9.76 annual dividend with an expected future payout ratio of 46.2%.

Snap-On Price Performance

Snap-On stock opened at $403.25 on Monday. Snap-On has a 1 year low of $319.20 and a 1 year high of $423.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The firm has a 50 day moving average price of $402.16 and a 200 day moving average price of $383.71. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.84 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm posted $4.72 earnings per share. Snap-On’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Snap-On will post 19.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNA shares. Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Tigress Financial lifted their price objective on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Finally, Roth Capital reissued a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and an average price target of $426.20.

About Snap-On

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.