John Bean Technologies Corp. (JBT) Rating Lowered to Hold at Zacks Investment Research
According to Zacks, “JOHN BEAN TECHNOLOGIES CORPORATION is a leading global solutions provider to the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments. “
Separately, BB&T Corp. initiated coverage on John Bean Technologies Corp. in a report on Friday, June 17th. They set a buy rating and a $75.00 price objective for the company.
Shares of John Bean Technologies Corp. (NYSE:JBT) opened at 73.16 on Wednesday. The firm has a market cap of $2.13 billion, a P/E ratio of 38.04 and a beta of 1.35. John Bean Technologies Corp. has a 12 month low of $38.42 and a 12 month high of $74.22. The stock’s 50 day moving average is $68.37 and its 200 day moving average is $62.25.
John Bean Technologies Corp. (NYSE:JBT) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.11. John Bean Technologies Corp. had a return on equity of 47.47% and a net margin of 4.70%. The company earned $328.80 million during the quarter, compared to analyst estimates of $304.19 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. John Bean Technologies Corp.’s revenue was up 29.1% on a year-over-year basis. Equities research analysts expect that John Bean Technologies Corp. will post $2.33 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a $0.10 dividend. This is an increase from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. John Bean Technologies Corp.’s payout ratio is presently 20.83%.
In related news, EVP Steven R. Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $66.50, for a total value of $199,500.00. Following the completion of the sale, the executive vice president now owns 64,448 shares in the company, valued at approximately $4,285,792. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.45% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in JBT. Norges Bank purchased a new stake in John Bean Technologies Corp. during the fourth quarter worth $13,007,000. Aperio Group LLC increased its stake in John Bean Technologies Corp. by 27.5% in the first quarter. Aperio Group LLC now owns 10,568 shares of the company’s stock worth $596,000 after buying an additional 2,279 shares during the last quarter. Teachers Advisors Inc. increased its stake in John Bean Technologies Corp. by 5.0% in the first quarter. Teachers Advisors Inc. now owns 322,565 shares of the company’s stock worth $18,196,000 after buying an additional 15,398 shares during the last quarter. Prudential Financial Inc. increased its stake in John Bean Technologies Corp. by 2.0% in the first quarter. Prudential Financial Inc. now owns 108,076 shares of the company’s stock worth $6,097,000 after buying an additional 2,100 shares during the last quarter. Finally, Algert Global LLC increased its stake in John Bean Technologies Corp. by 27.4% in the first quarter. Algert Global LLC now owns 17,026 shares of the company’s stock worth $960,000 after buying an additional 3,657 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.
About John Bean Technologies Corp.
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.
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