John Bean Technologies Co. (NYSE:JBT) Announces Quarterly Dividend of $0.10 – MarketBeat

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John Bean Technologies Co. (NYSE:JBT – Get Rating) announced a quarterly dividend on Friday, August 12th, Wall Street Journal reports. Shareholders of record on Monday, August 22nd will be paid a dividend of 0.10 per share by the industrial products company on Tuesday, September 6th. This represents a $0.40 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, August 19th.
John Bean Technologies has a dividend payout ratio of 6.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect John Bean Technologies to earn $5.66 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 7.1%.

John Bean Technologies Stock Up 3.2 %

Shares of John Bean Technologies stock traded up $3.73 during trading on Friday, reaching $120.97. The company’s stock had a trading volume of 100,875 shares, compared to its average volume of 205,936. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 0.85. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.56 and a beta of 1.40. John Bean Technologies has a 1-year low of $98.57 and a 1-year high of $177.56. The company has a 50-day simple moving average of $112.53 and a two-hundred day simple moving average of $116.32.
John Bean Technologies (NYSE:JBT – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). The business had revenue of $542.30 million during the quarter, compared to analyst estimates of $552.27 million. John Bean Technologies had a return on equity of 16.69% and a net margin of 6.04%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. As a group, equities analysts forecast that John Bean Technologies will post 4.94 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price objective on John Bean Technologies from $140.00 to $128.00 in a research report on Thursday, July 28th.

Insider Activity at John Bean Technologies

In related news, Director Caroline Maury Devine sold 300 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $116.89, for a total value of $35,067.00. Following the transaction, the director now owns 48,249 shares in the company, valued at approximately $5,639,825.61. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 900 shares of company stock worth $99,978 over the last quarter. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On John Bean Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of JBT. Wellington Management Group LLP increased its holdings in John Bean Technologies by 64.6% in the 1st quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock worth $218,546,000 after buying an additional 723,720 shares during the period. Royal Bank of Canada lifted its position in shares of John Bean Technologies by 82.0% during the 1st quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company’s stock valued at $44,134,000 after buying an additional 167,866 shares in the last quarter. State Street Corp lifted its position in shares of John Bean Technologies by 3.7% during the 1st quarter. State Street Corp now owns 1,072,846 shares of the industrial products company’s stock valued at $127,100,000 after buying an additional 38,132 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in John Bean Technologies by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,910 shares of the industrial products company’s stock valued at $7,690,000 after purchasing an additional 14,115 shares during the last quarter. Finally, Eaton Vance Management raised its stake in John Bean Technologies by 68.5% in the 1st quarter. Eaton Vance Management now owns 30,513 shares of the industrial products company’s stock valued at $3,615,000 after purchasing an additional 12,405 shares during the last quarter.

John Bean Technologies Company Profile

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John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.

Further Reading

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