John Bean Technologies Corp (NYSE:JBT) declared a quarterly dividend on Friday, August 9th, Fidelity reports. Stockholders of record on Monday, August 19th will be given a dividend of 0.10 per share by the industrial products company on Tuesday, September 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09.
John Bean Technologies has increased its dividend payment by an average of 2.6% per year over the last three years. John Bean Technologies has a payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect John Bean Technologies to earn $5.35 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 7.5%.
JBT stock opened at $100.62 on Thursday. The company has a fifty day moving average of $117.12. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.94 and a current ratio of 1.48. The firm has a market cap of $3.24 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.90 and a beta of 1.46. John Bean Technologies has a twelve month low of $66.28 and a twelve month high of $127.97.
In other news, Director Caroline Maury Devine sold 300 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $114.30, for a total value of $34,290.00. Following the completion of the transaction, the director now owns 50,246 shares in the company, valued at approximately $5,743,117.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James L. Marvin sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $122.48, for a total value of $183,720.00. Following the completion of the transaction, the executive vice president now owns 19,813 shares of the company’s stock, valued at approximately $2,426,696.24. The disclosure for this sale can be found here. 2.23% of the stock is owned by company insiders.
A number of research firms have recently weighed in on JBT. Wellington Shields downgraded John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine downgraded John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co upped their price objective on shares of John Bean Technologies from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research upgraded shares of John Bean Technologies from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $106.60.
About John Bean Technologies
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
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