John Bean Technologies (NYSE:JBT) Posts Quarterly Earnings Results – MarketBeat

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John Bean Technologies (NYSE:JBT – Get Rating) issued its earnings results on Thursday. The industrial products company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.19 by $0.08, Briefing.com reports. John Bean Technologies had a net margin of 6.04% and a return on equity of 16.69%. The company had revenue of $555.40 million for the quarter, compared to analyst estimates of $557.57 million. During the same period in the previous year, the firm earned $1.02 EPS. The business’s revenue was up 16.3% on a year-over-year basis.

John Bean Technologies Price Performance

JBT stock traded up $3.00 during trading on Friday, hitting $91.78. The stock had a trading volume of 5,060 shares, compared to its average volume of 160,693. The company’s 50 day moving average price is $96.42 and its two-hundred day moving average price is $107.94. John Bean Technologies has a 1-year low of $81.59 and a 1-year high of $177.56. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.36 and a beta of 1.42. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.84 and a current ratio of 1.33.

John Bean Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 22nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, August 19th. John Bean Technologies’s payout ratio is 10.26%.

Analyst Ratings Changes

JBT has been the topic of several recent research reports. Robert W. Baird decreased their price objective on shares of John Bean Technologies from $117.00 to $110.00 in a research report on Thursday. William Blair lowered shares of John Bean Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, StockNews.com initiated coverage on shares of John Bean Technologies in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Activity at John Bean Technologies

In other news, Director Caroline Maury Devine sold 300 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $89.78, for a total transaction of $26,934.00. Following the completion of the transaction, the director now owns 47,049 shares of the company’s stock, valued at approximately $4,224,059.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 900 shares of company stock valued at $91,827. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. increased its stake in shares of John Bean Technologies by 4.8% during the 1st quarter. Sei Investments Co. now owns 5,549 shares of the industrial products company’s stock valued at $667,000 after acquiring an additional 256 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in John Bean Technologies during the 2nd quarter worth approximately $652,000. Willis Investment Counsel acquired a new stake in John Bean Technologies during the 1st quarter worth approximately $546,000. LPL Financial LLC increased its position in John Bean Technologies by 8.4% during the 2nd quarter. LPL Financial LLC now owns 3,429 shares of the industrial products company’s stock worth $379,000 after purchasing an additional 265 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in John Bean Technologies by 6.7% during the 1st quarter. Private Advisor Group LLC now owns 2,992 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 188 shares in the last quarter.

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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