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

John Bean Technologies Co. (NYSE:JBTGet Rating) announced a quarterly dividend on Friday, August 12th, Wall Street Journal reports. Stockholders of record on Monday, August 22nd will be given a dividend of 0.10 per share by the industrial products company on Tuesday, September 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, August 19th.

John Bean Technologies has a dividend payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NYSE:JBT opened at $121.21 on Wednesday. The stock has a market cap of $3.86 billion, a P/E ratio of 32.41, a PEG ratio of 1.64 and a beta of 1.40. The stock has a 50 day simple moving average of $112.32 and a 200 day simple moving average of $115.94. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. John Bean Technologies has a 1-year low of $98.57 and a 1-year high of $177.56.

John Bean Technologies (NYSE:JBTGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $542.30 million for 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 business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.19 earnings per share. Research analysts anticipate that John Bean Technologies will post 4.94 earnings per share for the current year.

Insiders Place Their Bets

In other John Bean Technologies news, Director Caroline Maury Devine sold 300 shares of the firm’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $107.71, for a total transaction of $32,313.00. Following the transaction, the director now owns 47,649 shares in the company, valued at approximately $5,132,273.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On John Bean Technologies

A number of hedge funds have recently added to or reduced their stakes in JBT. Vanguard Group Inc. increased its stake in shares of John Bean Technologies by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,387,496 shares of the industrial products company’s stock valued at $401,316,000 after purchasing an additional 11,651 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of John Bean Technologies by 64.6% during the 1st quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after acquiring an additional 723,720 shares in the last quarter. State Street Corp boosted its holdings 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 acquiring an additional 38,132 shares in the last quarter. Royal Bank of Canada boosted its holdings 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 acquiring an additional 167,866 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of John Bean Technologies by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 276,492 shares of the industrial products company’s stock valued at $32,757,000 after acquiring an additional 10,506 shares in the last quarter.

Analyst Upgrades and Downgrades

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

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.

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Dividend History for John Bean Technologies (NYSE:JBT)

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