John Bean Technologies (NYSE:JBT) Sets New 52-Week Low at $89.73

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 changing hands. The stock had previously closed at $90.18.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reaffirmed an “outperform” rating and set a $121.00 target price on shares of John Bean Technologies in a research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

John Bean Technologies Price Performance

The company has a current ratio of 2.27, a quick ratio of 1.78 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.89 billion, a P/E ratio of 4.79, a PEG ratio of 1.43 and a beta of 1.29. The firm has a 50-day simple moving average of $100.26 and a 200-day simple moving average of $101.14.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.04. The firm 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 business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. As a group, analysts forecast that John Bean Technologies Co. will post 5.15 EPS for the current year.

John Bean Technologies Announces Dividend

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

Institutional Trading of John Bean Technologies

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of John Bean Technologies by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,427,710 shares of the industrial products company’s stock worth $294,782,000 after purchasing an additional 31,812 shares in the last quarter. Wellington Management Group LLP raised its stake in John Bean Technologies by 64.6% in the 1st quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock worth $218,546,000 after acquiring an additional 723,720 shares during the last quarter. State Street Corp raised its stake in John Bean Technologies by 3.7% in the 1st quarter. State Street Corp now owns 1,072,846 shares of the industrial products company’s stock worth $127,100,000 after acquiring an additional 38,132 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in John Bean Technologies by 2.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 920,281 shares of the industrial products company’s stock worth $91,522,000 after acquiring an additional 21,000 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in John Bean Technologies by 2.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 910,912 shares of the industrial products company’s stock worth $99,554,000 after acquiring an additional 23,731 shares during 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.