Fintel reports that on June 30, 2023, Baird reiterated coverage of John Bean Technologies (NYSE:JBT) with a Outperform recommendation.
Analyst Price Forecast Suggests 1.82% Downside
As of June 1, 2023, the average one-year price target for John Bean Technologies is 116.79. The forecasts range from a low of 85.85 to a high of $134.40. The average price target represents a decrease of 1.82% from its latest reported closing price of 118.95.
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The projected annual revenue for John Bean Technologies is 2,337MM, an increase of 4.97%. The projected annual non-GAAP EPS is 5.41.
John Bean Technologies Declares $0.10 Dividend
On May 12, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of May 25, 2023 received the payment on June 8, 2023. Previously, the company paid $0.10 per share.
At the current share price of $118.95 / share, the stock's dividend yield is 0.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.38%, the lowest has been 0.23%, and the highest has been 0.65%. The standard deviation of yields is 0.08 (n=236).
The current dividend yield is 0.53 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.10. 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.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 597 funds or institutions reporting positions in John Bean Technologies. This is a decrease of 3 owner(s) or 0.50% in the last quarter. Average portfolio weight of all funds dedicated to JBT is 0.25%, an increase of 15.06%. Total shares owned by institutions decreased in the last three months by 0.53% to 38,500K shares. 
The put/call ratio of JBT is 0.61, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,321K shares representing 7.29% ownership of the company. In it's prior filing, the firm reported owning 2,361K shares, representing a decrease of 1.72%. The firm increased its portfolio allocation in JBT by 14.30% over the last quarter.
Champlain Investment Partners holds 1,590K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 1,620K shares, representing a decrease of 1.93%. The firm increased its portfolio allocation in JBT by 115,149.60% over the last quarter.
Wellington Management Group Llp holds 1,245K shares representing 3.91% ownership of the company. In it's prior filing, the firm reported owning 1,116K shares, representing an increase of 10.36%. The firm decreased its portfolio allocation in JBT by 81.38% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 991K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 965K shares, representing an increase of 2.62%. The firm increased its portfolio allocation in JBT by 13.46% over the last quarter.
T. Rowe Price Investment Management holds 961K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 1,017K shares, representing a decrease of 5.85%. The firm increased its portfolio allocation in JBT by 5.63% over the last quarter.
John Bean Technologies Background Information
(This description is provided by the company.)
JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods and automated system solutions. JBT designs, produces and services sophisticated products and systems for multi-national and regional customers through its FoodTech segment. JBT also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. JBT Corporation employs approximately 6,200 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries.
Key filings for this company:
This story originally appeared on Fintel.
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