John Bean Technologies (NYSE:JBT) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of John Bean Technologies (NYSE:JBT) in a report published on Thursday, Marketbeat reports. The firm issued a hold rating and a $130.00 target price on the industrial products company’s stock.

John Bean Technologies Price Performance

Shares of NYSE:JBT opened at $122.87 on Thursday. The company’s fifty day moving average price is $114.54 and its 200 day moving average price is $100.91. John Bean Technologies has a 12 month low of $82.64 and a 12 month high of $128.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.55 and a quick ratio of 2.00. The firm has a market capitalization of $3.91 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.74 and a beta of 1.24.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. The firm had revenue of $453.80 million for the quarter, compared to analyst estimates of $442.20 million. During the same period last year, the business earned $1.11 EPS. John Bean Technologies’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that John Bean Technologies will post 5.23 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, December 13th. John Bean Technologies’s payout ratio is currently 7.42%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its position in John Bean Technologies by 57.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company’s stock worth $121,507,000 after purchasing an additional 466,846 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in John Bean Technologies by 2.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 951,534 shares of the industrial products company’s stock worth $90,367,000 after purchasing an additional 24,981 shares during the last quarter. Royce & Associates LP grew its position in John Bean Technologies by 7.2% during the 3rd quarter. Royce & Associates LP now owns 858,523 shares of the industrial products company’s stock worth $84,573,000 after purchasing an additional 57,371 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of John Bean Technologies by 170.9% in the third 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 acquiring an additional 531,298 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of John Bean Technologies by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 778,178 shares of the industrial products company’s stock valued at $73,908,000 after acquiring an additional 19,549 shares in the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.

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.