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

Shares of John Bean Technologies Co. (NYSE:JBT - Get Free Report) reached a new 52-week low on Thursday . The company 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.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird restated an "outperform" rating and issued a $121.00 target price on shares of John Bean Technologies in a report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $121.00.

John Bean Technologies Stock Down 1.7 %

The company has a market cap of $2.82 billion, a P/E ratio of 4.71, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.27 and a quick ratio of 1.78. The stock has a fifty day moving average price of $99.11 and a two-hundred day moving average price of $100.69.

John Bean Technologies (NYSE:JBT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.04. The company had revenue of $444.60 million during the quarter, compared to analysts' expectations of $445.81 million. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. On average, research analysts expect that John Bean Technologies Co. will post 5.15 EPS for the current year.

John Bean Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, March 8th. John Bean Technologies's payout ratio is 2.12%.

Hedge Funds Weigh In On John Bean Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC grew its position in John Bean Technologies by 22.2% during the first quarter. WCM Investment Management LLC now owns 196,673 shares of the industrial products company's stock worth $20,629,000 after buying an additional 35,741 shares in the last quarter. Cascade Investment Advisors Inc. grew its position in John Bean Technologies by 2.8% during the first quarter. Cascade Investment Advisors Inc. now owns 11,788 shares of the industrial products company's stock worth $1,236,000 after buying an additional 320 shares in the last quarter. Simplicity Wealth LLC purchased a new position in John Bean Technologies during the first quarter worth about $558,000. Diversified Trust Co grew its position in John Bean Technologies by 36.6% during the first quarter. Diversified Trust Co now owns 13,216 shares of the industrial products company's stock worth $1,386,000 after buying an additional 3,541 shares in the last quarter. Finally, West Coast Financial LLC lifted its stake in John Bean Technologies by 0.4% during the first quarter. West Coast Financial LLC now owns 82,215 shares of the industrial products company's stock worth $8,624,000 after purchasing an additional 300 shares during the last quarter. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

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.