Jefferies Financial Group started coverage on shares of John Bean Technologies (NYSE:JBT - Free Report) in a research note published on Thursday, MarketBeat.com reports. The firm issued a hold rating and a $130.00 price target on the industrial products company's stock.
John Bean Technologies Price Performance
Shares of JBT traded up $2.11 during mid-day trading on Thursday, hitting $127.12. 465,779 shares of the company were exchanged, compared to its average volume of 286,324. The company has a 50 day moving average of $113.49 and a 200-day moving average of $100.47. John Bean Technologies has a 1-year low of $82.64 and a 1-year high of $128.23. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.00 and a current ratio of 2.55.
John Bean Technologies (NYSE:JBT - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. The company had revenue of $453.80 million during the quarter, compared to the consensus estimate of $442.20 million. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. John Bean Technologies's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. Analysts expect that John Bean Technologies will post 5.23 EPS for the current fiscal year.
John Bean Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.10 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. John Bean Technologies's dividend payout ratio is currently 7.42%.
Institutional Trading of John Bean Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of JBT. Kayne Anderson Rudnick Investment Management LLC increased its holdings in John Bean Technologies by 57.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company's stock valued at $121,507,000 after purchasing an additional 466,846 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of John Bean Technologies by 2.7% during the second quarter. Conestoga Capital Advisors LLC now owns 951,534 shares of the industrial products company's stock worth $90,367,000 after buying an additional 24,981 shares during the period. Royce & Associates LP grew its stake in shares of John Bean Technologies by 7.2% in the third quarter. Royce & Associates LP now owns 858,523 shares of the industrial products company's stock valued at $84,573,000 after buying an additional 57,371 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of John Bean Technologies by 170.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,184 shares of the industrial products company's stock valued at $82,964,000 after buying an additional 531,298 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in John Bean Technologies by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 778,178 shares of the industrial products company's stock worth $73,908,000 after acquiring an additional 19,549 shares in the last quarter. 98.92% of the stock is owned by institutional investors and hedge funds.
John Bean Technologies Company Profile
(
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John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.
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