John Bean Technologies Corp. (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. began coverage on John Bean Technologies Corp. in a research note on Friday, June 17th. They set a “buy” rating and a $75.00 target price for the company.
John Bean Technologies Corp. (NYSE:JBT) opened at 68.08 on Wednesday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 35.40 and a beta of 1.37. The company’s 50 day moving average price is $67.96 and its 200-day moving average price is $61.81. John Bean Technologies Corp. has a 12-month low of $36.64 and a 12-month high of $71.00.
John Bean Technologies Corp. (NYSE:JBT) last released its earnings results on Tuesday, July 26th. The company reported $0.67 EPS for the quarter, topping the 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 business earned $328.80 million during the quarter, compared to analysts’ expectations of $304.19 million. During the same quarter last year, the firm posted $0.48 earnings per share. The firm’s revenue was up 29.1% on a year-over-year basis. On average, equities analysts anticipate that John Bean Technologies Corp. will post $2.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, August 31st. This is a boost from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. John Bean Technologies Corp.’s dividend payout ratio (DPR) is 20.83%.
In other John Bean Technologies Corp. news, EVP Steven R. Smith sold 3,000 shares of the firm’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 of the company’s stock, valued at $4,285,792. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.45% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in JBT. BlackRock Inc. boosted its stake in shares of John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock worth $107,000 after buying an additional 1,090 shares during the period. BlackRock Japan Co. Ltd boosted its stake in shares of John Bean Technologies Corp. by 1.7% in the second quarter. BlackRock Japan Co. Ltd now owns 1,787 shares of the company’s stock worth $109,000 after buying an additional 30 shares during the period. KBC Group NV purchased a new stake in shares of John Bean Technologies Corp. during the second quarter worth approximately $159,000. Quantbot Technologies LP boosted its stake in shares of John Bean Technologies Corp. by 156.7% in the second quarter. Quantbot Technologies LP now owns 3,065 shares of the company’s stock worth $187,000 after buying an additional 1,871 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in shares of John Bean Technologies Corp. during the second quarter worth approximately $208,000. 99.02% of the stock is owned by hedge funds and other institutional investors.
John Bean Technologies Corp. Company Profile
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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