John Bean Technologies Corp. (JBT) Shares Gap Up to $60.90
John Bean Technologies Corp. (NYSE:JBT) shares gapped up prior to trading on Friday . The stock had previously closed at $60.46, but opened at $60.90. John Bean Technologies Corp. shares last traded at $62.69, with a volume of 50,530 shares.
JBT has been the subject of several analyst reports. Zacks Investment Research downgraded shares of John Bean Technologies Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 27th. William Blair began coverage on shares of John Bean Technologies Corp. in a report on Tuesday, April 19th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, BB&T Corp. began coverage on shares of John Bean Technologies Corp. in a report on Friday, June 17th. They issued a “buy” rating and a $75.00 price target for the company.
The company’s 50-day moving average is $61.10 and its 200 day moving average is $53.71. The stock has a market capitalization of $1.83 billion and a PE ratio of 35.32.
John Bean Technologies Corp. (NYSE:JBT) last issued its earnings results on Tuesday, April 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm earned $267.10 million during the quarter, compared to the consensus estimate of $265.03 million. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. On average, analysts anticipate that John Bean Technologies Corp. will post $2.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 26th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 24th. This is a boost from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.64%.
Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in John Bean Technologies Corp. by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 198,258 shares of the company’s stock valued at $9,879,000 after buying an additional 7,579 shares during the last quarter. Wells Fargo & Company MN boosted its position in John Bean Technologies Corp. by 78.0% in the fourth quarter. Wells Fargo & Company MN now owns 527,335 shares of the company’s stock valued at $26,278,000 after buying an additional 231,161 shares during the last quarter. EAM Investors LLC boosted its position in John Bean Technologies Corp. by 3.4% in the fourth quarter. EAM Investors LLC now owns 87,323 shares of the company’s stock valued at $4,351,000 after buying an additional 2,831 shares during the last quarter. New York State Common Retirement Fund boosted its position in John Bean Technologies Corp. by 6.8% in the fourth quarter. New York State Common Retirement Fund now owns 163,326 shares of the company’s stock valued at $8,139,000 after buying an additional 10,400 shares during the last quarter. Finally, Lebenthal Lisanti Capital Growth LLC bought a new position in John Bean Technologies Corp. during the fourth quarter valued at $1,025,000.
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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