John Bean Technologies (NYSE:JBT) Reaches New 12-Month Low at $88.30

John Bean Technologies Co. (NYSE:JBT)’s share price hit a new 52-week low on Thursday . The stock traded as low as $88.30 and last traded at $89.41, with a volume of 35177 shares changing hands. The stock had previously closed at $90.17.

Analysts Set New Price Targets

Separately, Robert W. Baird reiterated an “outperform” rating and issued a $121.00 price target on shares of John Bean Technologies in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

John Bean Technologies Stock Up 2.5 %

The company has a quick ratio of 1.78, a current ratio of 2.27 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $98.78 and a 200 day moving average of $100.61. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 4.82, a P/E/G ratio of 1.42 and a beta of 1.29.

John Bean Technologies (NYSE:JBT) last issued its earnings results on Wednesday, February 21st. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.04. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The company had revenue of $444.60 million during the quarter, compared to the consensus estimate of $445.81 million. During the same period in the previous year, the firm posted $1.49 earnings per share. John Bean Technologies’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts expect that John Bean Technologies Co. will post 5.1 earnings per share for the current fiscal year.

John Bean Technologies Dividend Announcement

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

Hedge Funds Weigh In On John Bean Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in shares of John Bean Technologies by 1.4% during the third quarter. Arizona State Retirement System now owns 9,060 shares of the industrial products company’s stock worth $953,000 after buying an additional 123 shares during the period. UMB Bank n.a. boosted its position in shares of John Bean Technologies by 162.1% during the first quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $26,000 after buying an additional 154 shares during the period. OLD National Bancorp IN boosted its position in shares of John Bean Technologies by 7.6% during the third quarter. OLD National Bancorp IN now owns 2,249 shares of the industrial products company’s stock worth $236,000 after buying an additional 158 shares during the period. Wrapmanager Inc. boosted its position in shares of John Bean Technologies by 5.4% during the fourth quarter. Wrapmanager Inc. now owns 3,515 shares of the industrial products company’s stock worth $350,000 after buying an additional 180 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in shares of John Bean Technologies by 2.6% during the third quarter. DAVENPORT & Co LLC now owns 7,759 shares of the industrial products company’s stock worth $816,000 after buying an additional 194 shares during the period. 98.92% of the stock is currently owned by institutional investors and hedge funds.

John Bean Technologies Company Profile

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.