Shares of John Bean Technologies Corp (NYSE:JBT) have earned an average recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $104.20.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of John Bean Technologies from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a report on Tuesday, November 28th. Bank of America downgraded shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a report on Friday, December 8th. Finally, Robert W. Baird upped their price objective on shares of John Bean Technologies from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th.
Hedge funds have recently bought and sold shares of the stock. Bamco Inc. NY lifted its holdings in John Bean Technologies by 93.3% in the 3rd quarter. Bamco Inc. NY now owns 773,300 shares of the industrial products company’s stock valued at $78,181,000 after acquiring an additional 373,300 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in John Bean Technologies by 17.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 852,476 shares of the industrial products company’s stock valued at $86,611,000 after acquiring an additional 123,801 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its holdings in John Bean Technologies by 181.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 154,148 shares of the industrial products company’s stock valued at $15,584,000 after acquiring an additional 99,407 shares during the last quarter. American Century Companies Inc. lifted its holdings in John Bean Technologies by 13.6% in the 3rd quarter. American Century Companies Inc. now owns 589,764 shares of the industrial products company’s stock valued at $59,625,000 after acquiring an additional 70,721 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in John Bean Technologies by 36.0% in the 2nd quarter. Royal Bank of Canada now owns 249,398 shares of the industrial products company’s stock valued at $24,441,000 after acquiring an additional 66,027 shares during the last quarter. 99.26% of the stock is owned by institutional investors and hedge funds.
John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The business had revenue of $420.80 million during the quarter, compared to the consensus estimate of $414.17 million. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. equities analysts expect that John Bean Technologies will post 3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Friday, December 15th. John Bean Technologies’s payout ratio is currently 14.49%.
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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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