Snap-on (SNA) Declares $1.86 Dividend
Snap-on said on February 15, 2024 that its board of directors declared a regular quarterly dividend of $1.86 per share ($7.44 annualized). Previously, the company paid $1.86 per share.
Shareholders of record as of February 26, 2024 will receive the payment on March 11, 2024.
At the current share price of $271.23 / share, the stock's dividend yield is 2.74%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.59%, the lowest has been 1.93%, and the highest has been 4.52%. The standard deviation of yields is 0.35 (n=233).
The current dividend yield is 0.42 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.51%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1570 funds or institutions reporting positions in Snap-on. This is an increase of 52 owner(s) or 3.43% in the last quarter. Average portfolio weight of all funds dedicated to SNA is 0.23%, a decrease of 2.07%. Total shares owned by institutions increased in the last three months by 0.36% to 49,991K shares. 
The put/call ratio of SNA is 2.13, indicating a bearish outlook.
Analyst Price Forecast Suggests 3.84% Upside
As of January 20, 2024, the average one-year price target for Snap-on is 281.65. The forecasts range from a low of 212.10 to a high of $341.25. The average price target represents an increase of 3.84% from its latest reported closing price of 271.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Snap-on is 4,808MM, a decrease of 5.88%. The projected annual non-GAAP EPS is 17.58.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,643K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,657K shares, representing a decrease of 0.88%. The firm decreased its portfolio allocation in SNA by 8.94% over the last quarter.
Geode Capital Management holds 1,404K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 1,388K shares, representing an increase of 1.14%. The firm increased its portfolio allocation in SNA by 0.58% over the last quarter.
Charles Schwab Investment Management holds 1,276K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 1,276K shares, representing a decrease of 0.03%. The firm decreased its portfolio allocation in SNA by 8.63% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 1,272K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 1,261K shares, representing an increase of 0.85%. The firm decreased its portfolio allocation in SNA by 8.60% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 1,198K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 1,227K shares, representing a decrease of 2.39%. The firm decreased its portfolio allocation in SNA by 8.49% over the last quarter.
Snap-on Background Information
(This description is provided by the company.)
Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products and support its franchise business. Products and services are sold through the company's franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.6 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
Additional reading:
- nap-on Incorporated Insider Tradi
- Subsidiaries of the Corporation
- Snap-on Incorporated Clawback Policy for Erroneously Awarded Compensation
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