John Bean Technologies (NYSE:JBT) Sets New 12-Month Low at $89.73

Shares of John Bean Technologies Co. (NYSE:JBT) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $89.73 and last traded at $89.73, with a volume of 13192 shares traded. The stock had previously closed at $90.18.

Analysts Set New Price Targets

Separately, Robert W. Baird reissued an “outperform” rating and set a $121.00 price objective on shares of John Bean Technologies in a research report on Monday, January 22nd. One analyst has rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, John Bean Technologies currently has an average rating of “Moderate Buy” and an average target price of $121.00.

John Bean Technologies Trading Up 2.2 %

The firm has a market cap of $2.92 billion, a P/E ratio of 4.87, a P/E/G ratio of 1.43 and a beta of 1.29. The business’s 50-day moving average is $99.79 and its two-hundred day moving average is $100.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.27 and a quick ratio of 1.78.

John Bean Technologies (NYSE:JBT) last released its earnings results on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.04. The business had revenue of $444.60 million during the quarter, compared to the consensus estimate of $445.81 million. John Bean Technologies had a net margin of 33.53% and a return on equity of 12.15%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share. As a group, analysts predict that John Bean Technologies Co. will post 5.15 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, March 8th. John Bean Technologies’s dividend payout ratio is currently 2.12%.

Institutional Trading of John Bean Technologies

Hedge funds have recently modified their holdings of the stock. Money Concepts Capital Corp acquired a new stake in shares of John Bean Technologies during the 4th quarter worth about $29,000. Belpointe Asset Management LLC lifted its stake in shares of John Bean Technologies by 124.0% during the 1st quarter. Belpointe Asset Management LLC now owns 392 shares of the industrial products company’s stock worth $43,000 after buying an additional 217 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of John Bean Technologies during the 1st quarter worth about $59,000. State of Wyoming acquired a new stake in shares of John Bean Technologies during the 2nd quarter worth about $73,000. Finally, GPS Wealth Strategies Group LLC raised its stake in John Bean Technologies by 35.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 980 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 257 shares in the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.

About John Bean Technologies

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.