John Bean Technologies Corp (JBT) Plans $0.10 Quarterly Dividend
John Bean Technologies Corp (NYSE:JBT) declared a quarterly dividend on Thursday, December 6th, NASDAQ reports. Investors of record on Monday, December 17th will be paid a dividend of 0.10 per share by the industrial products company on Monday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, December 14th.
John Bean Technologies has raised its dividend payment by an average of 3.6% per year over the last three years. John Bean Technologies has a dividend payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect John Bean Technologies to earn $4.35 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 9.2%.
Shares of NYSE JBT opened at $77.75 on Friday. The stock has a market cap of $2.40 billion, a P/E ratio of 25.08, a PEG ratio of 1.20 and a beta of 1.19. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.87 and a current ratio of 1.38. John Bean Technologies has a 1-year low of $73.66 and a 1-year high of $123.90.
A number of equities analysts recently weighed in on JBT shares. BMO Capital Markets decreased their price objective on John Bean Technologies to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 29th. Robert W. Baird decreased their price objective on John Bean Technologies from $119.00 to $95.00 and set a “hold” rating on the stock in a report on Friday, November 2nd. JPMorgan Chase & Co. cut John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 price objective on the stock. in a report on Friday, September 21st. ValuEngine lowered John Bean Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Finally, Zacks Investment Research lowered John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $100.57.
In related news, EVP Carlos Fernandez sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $80.56, for a total transaction of $80,560.00. Following the transaction, the executive vice president now directly owns 16,212 shares in the company, valued at approximately $1,306,038.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.24% of the stock is owned by company insiders.
John Bean Technologies Company Profile
John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and 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 solutions, 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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