Zacks Investment Research upgraded shares of John Bean Technologies (NYSE:JBT) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $124.00 price objective on the industrial products company’s stock.
According to Zacks, “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, and weighing solutions 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. The company also offers automated guided vehicle systems for material handling in the manufacturing and warehouse industries; packaging material components, such as metal clips and hanging loops etc. “
Several other equities research analysts have also recently commented on the stock. Bank of America cut shares of John Bean Technologies from a neutral rating to an underperform rating in a research report on Friday, December 8th. Robert W. Baird boosted their price objective on shares of John Bean Technologies from $107.00 to $115.00 and gave the company an outperform rating in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $104.86.
John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $420.80 million for the quarter, compared to analysts’ expectations of $414.17 million. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. equities research analysts predict that John Bean Technologies will post 3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.37%. John Bean Technologies’s dividend payout ratio (DPR) is presently 14.49%.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in John Bean Technologies by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,811,488 shares of the industrial products company’s stock worth $275,526,000 after buying an additional 53,907 shares in the last quarter. Wells Fargo & Company MN lifted its position in John Bean Technologies by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,705,825 shares of the industrial products company’s stock worth $172,458,000 after buying an additional 38,549 shares in the last quarter. JPMorgan Chase & Co. lifted its position in John Bean Technologies by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,044,366 shares of the industrial products company’s stock worth $104,646,000 after buying an additional 3,564 shares in the last quarter. Eagle Asset Management Inc. lifted its position in John Bean Technologies by 17.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 852,476 shares of the industrial products company’s stock worth $86,611,000 after buying an additional 123,801 shares in the last quarter. Finally, State Street Corp lifted its position in John Bean Technologies by 7.2% during the 2nd quarter. State Street Corp now owns 776,821 shares of the industrial products company’s stock worth $76,130,000 after buying an additional 51,939 shares in the last quarter. 99.26% of the stock is currently owned by hedge funds and other institutional investors.
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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