John Bean Technologies (JBT) Declares $0.10 Dividend
John Bean Technologies said on August 10, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.
Shareholders of record as of August 21, 2023 will receive the payment on September 5, 2023.
At the current share price of $108.84 / share, the stock's dividend yield is 0.37%.
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 0.11 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 588 funds or institutions reporting positions in John Bean Technologies. This is a decrease of 7 owner(s) or 1.18% in the last quarter. Average portfolio weight of all funds dedicated to JBT is 0.26%, an increase of 8.71%. Total shares owned by institutions increased in the last three months by 1.59% to 38,599K shares. 
The put/call ratio of JBT is 0.54, indicating a bullish outlook.
Analyst Price Forecast Suggests 5.59% Upside
As of August 2, 2023, the average one-year price target for John Bean Technologies is 114.92. The forecasts range from a low of 85.85 to a high of $134.40. The average price target represents an increase of 5.59% from its latest reported closing price of 108.84.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for John Bean Technologies is 2,337MM, an increase of 4.71%. The projected annual non-GAAP EPS is 5.41.
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 1,520K shares representing 4.77% ownership of the company. In it's prior filing, the firm reported owning 1,590K shares, representing a decrease of 4.59%. The firm increased its portfolio allocation in JBT by 3.78% over the last quarter.
T. Rowe Price Investment Management holds 1,255K shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 961K shares, representing an increase of 23.42%. The firm increased its portfolio allocation in JBT by 37.71% over the last quarter.
Wellington Management Group Llp holds 1,178K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 1,245K shares, representing a decrease of 5.67%. The firm decreased its portfolio allocation in JBT by 85.85% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 991K shares representing 3.11% 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.
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.
Additional reading:
- Stock and Asset Purchase Agreement, dated as of May 26, 2023, by and between the Company and Purchaser.
- Unaudited Pro Forma Condensed Consolidated Financial Information of John Bean Technologies Corporation.
- JBT Corporation Reports Second Quarter 2023 Results from Continuing Operations and Completes Sale of AeroTech
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