John Bean Technologies Co. (NYSE:JBT – Get Rating) saw strong trading volume on Wednesday . 7,728 shares traded hands during trading, a decline of 93% from the previous session's volume of 112,075 shares.The stock last traded at $98.66 and had previously closed at $100.41.
Analyst Ratings Changes
Separately, Robert W. Baird dropped their price objective on shares of John Bean Technologies from $140.00 to $128.00 in a research note on Thursday, July 28th.
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The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 1.36 and a beta of 1.40. The stock's fifty day moving average price is $112.22 and its 200-day moving average price is $114.39. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85.
John Bean Technologies (NYSE:JBT – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $1.18 by ($0.05). John Bean Technologies had a return on equity of 16.69% and a net margin of 6.04%. The business had revenue of $542.30 million for the quarter, compared to analysts' expectations of $552.27 million. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business's revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that John Bean Technologies Co. will post 4.94 earnings per share for the current fiscal year.John Bean Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.41%. John Bean Technologies's payout ratio is presently 10.70%.
Insider Activity at John Bean Technologies
In related news, Director Caroline Maury Devine sold 300 shares of the business's stock in a transaction on Monday, July 18th. The stock was sold at an average price of $107.71, for a total transaction of $32,313.00. Following the completion of the transaction, the director now directly owns 47,649 shares of the company's stock, valued at approximately $5,132,273.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 900 shares of company stock worth $100,599. Corporate insiders own 1.30% of the company's stock.
Hedge Funds Weigh In On John Bean Technologies
Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its stake in John Bean Technologies by 49.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 292 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 96 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in John Bean Technologies by 19.2% in the second quarter. Point72 Hong Kong Ltd now owns 597 shares of the industrial products company's stock valued at $66,000 after buying an additional 96 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of John Bean Technologies by 10.1% in the 1st quarter. Van ECK Associates Corp now owns 1,122 shares of the industrial products company's stock valued at $133,000 after acquiring an additional 103 shares during the period. Profund Advisors LLC raised its position in John Bean Technologies by 4.1% in the 1st quarter. Profund Advisors LLC now owns 3,268 shares of the industrial products company's stock valued at $387,000 after purchasing an additional 130 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in John Bean Technologies by 2.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,598 shares of the industrial products company's stock worth $618,000 after purchasing an additional 138 shares during the period.
About John Bean Technologies
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John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.
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