Snap-On Incorporated (NYSE:SNA) declared a quarterly dividend on Monday, November 6th, RTT News reports. Shareholders of record on Friday, November 17th will be given a dividend of 0.82 per share on Friday, December 8th. This represents a $3.28 dividend on an annualized basis and a yield of 2.07%. This is a boost from Snap-On’s previous quarterly dividend of $0.71.

Snap-On has increased its dividend payment by an average of 17.1% per year over the last three years and has raised its dividend every year for the last 7 years. Snap-On has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Snap-On to earn $10.93 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 26.0%.

Snap-On (NYSE SNA) opened at $158.22 on Monday. The stock has a market capitalization of $9,019.68, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75. Snap-On has a 12 month low of $140.83 and a 12 month high of $181.73.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $903.80 million during the quarter, compared to the consensus estimate of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.22 EPS. equities research analysts expect that Snap-On will post 10.09 earnings per share for the current fiscal year.

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Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Snap-On from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Barrington Research raised shares of Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 target price on the stock in a research report on Monday, October 23rd. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $177.00 price target on shares of Snap-On in a report on Thursday, October 19th. Finally, FBR & Co set a $205.00 price target on shares of Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Snap-On currently has a consensus rating of “Hold” and a consensus target price of $192.00.

Snap-On declared that its board has approved a stock buyback program on Monday, August 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

Dividend History for Snap-On (NYSE:SNA)

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