John Bean Technologies (JBT) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a sell rating to a hold rating in a research report sent to investors on Tuesday 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. “

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of John Bean Technologies from a neutral rating to an underweight rating and set a $88.00 price target for the company. in a research note on Friday, September 21st. ValuEngine downgraded shares of John Bean Technologies from a buy rating to a hold rating in a research note on Tuesday, October 2nd. Robert W. Baird dropped their price target on shares of John Bean Technologies from $119.00 to $95.00 and set a hold rating for the company in a research note on Friday, November 2nd. BMO Capital Markets dropped their price target on shares of John Bean Technologies to $105.00 and set an outperform rating for the company in a research note on Thursday, November 29th. Finally, Wells Fargo & Co dropped their price target on shares of John Bean Technologies from $110.00 to $100.00 and set an outperform rating for the company in a research note on Friday, December 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. John Bean Technologies presently has a consensus rating of Hold and an average target price of $98.43.

Shares of John Bean Technologies stock opened at $78.23 on Tuesday. John Bean Technologies has a fifty-two week low of $66.28 and a fifty-two week high of $123.90. The company has a current ratio of 1.38, a quick ratio of 0.87 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 1.13 and a beta of 1.26.

John Bean Technologies (NYSE:JBT) last issued its earnings results on Wednesday, October 31st. The industrial products company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). John Bean Technologies had a net margin of 4.32% and a return on equity of 28.31%. The company had revenue of $481.90 million during the quarter, compared to analyst estimates of $489.81 million. During the same quarter in the prior year, the business earned $0.82 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that John Bean Technologies will post 4.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Monday, December 17th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, December 14th. John Bean Technologies’s dividend payout ratio is presently 12.90%.

In related news, EVP Carlos Fernandez sold 1,000 shares of John Bean Technologies stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $80.56, for a total transaction of $80,560.00. Following the completion of the transaction, the executive vice president now owns 16,212 shares of the company’s stock, valued at $1,306,038.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.24% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in JBT. Schwab Charles Investment Management Inc. increased its stake in John Bean Technologies by 11.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 169,970 shares of the industrial products company’s stock valued at $15,111,000 after purchasing an additional 17,270 shares in the last quarter. BlackRock Inc. increased its stake in John Bean Technologies by 8.3% in the second quarter. BlackRock Inc. now owns 4,366,522 shares of the industrial products company’s stock valued at $388,186,000 after purchasing an additional 333,968 shares in the last quarter. Legal & General Group Plc increased its stake in John Bean Technologies by 13.8% in the second quarter. Legal & General Group Plc now owns 203,586 shares of the industrial products company’s stock valued at $18,145,000 after purchasing an additional 24,753 shares in the last quarter. FMR LLC increased its stake in John Bean Technologies by 18.5% in the second quarter. FMR LLC now owns 531,891 shares of the industrial products company’s stock valued at $47,285,000 after purchasing an additional 83,191 shares in the last quarter. Finally, Raymond James & Associates increased its stake in John Bean Technologies by 5.8% in the second quarter. Raymond James & Associates now owns 16,842 shares of the industrial products company’s stock valued at $1,497,000 after purchasing an additional 923 shares in the last quarter.

John Bean Technologies Company Profile

John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.

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