Zacks Investment Research downgraded shares of John Bean Technologies (NYSE:JBT) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “JBT 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. JBT Corporation employs approximately 3,100 people and operates 16 manufacturing facilities in 10 countries. “
JBT has been the subject of several other reports. Wells Fargo set a $130.00 price objective on John Bean Technologies and gave the stock a buy rating in a research report on Wednesday, February 28th. BMO Capital Markets boosted their price objective on John Bean Technologies to $125.00 and gave the stock an outperform rating in a research report on Monday, March 5th. Finally, Bank of America downgraded John Bean Technologies from a neutral rating to an underperform rating in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $110.57.
John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Monday, February 26th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The business had revenue of $483.70 million during the quarter, compared to the consensus estimate of $470.35 million. John Bean Technologies had a return on equity of 23.93% and a net margin of 4.92%. The business’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. research analysts anticipate that John Bean Technologies will post 3.93 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Monday, March 5th were issued a dividend of $0.10 per share. This is a boost from John Bean Technologies’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $0.40 annualized dividend and a yield of 0.35%. John Bean Technologies’s payout ratio is presently 15.81%.
Large investors have recently made changes to their positions in the stock. Carillon Tower Advisers Inc. bought a new stake in John Bean Technologies during the fourth quarter worth approximately $69,094,000. California Public Employees Retirement System raised its holdings in John Bean Technologies by 6.1% during the third quarter. California Public Employees Retirement System now owns 74,245 shares of the industrial products company’s stock worth $7,506,000 after purchasing an additional 4,245 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its holdings in John Bean Technologies by 1.4% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 163,790 shares of the industrial products company’s stock worth $16,559,000 after purchasing an additional 2,280 shares in the last quarter. American International Group Inc. raised its holdings in John Bean Technologies by 5.7% during the third quarter. American International Group Inc. now owns 24,903 shares of the industrial products company’s stock worth $2,518,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Bamco Inc. NY raised its holdings in John Bean Technologies by 93.3% during the third quarter. Bamco Inc. NY now owns 773,300 shares of the industrial products company’s stock worth $78,181,000 after purchasing an additional 373,300 shares in the last quarter.
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John Bean Technologies Company Profile
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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