Confluence Investment Management LLC lessened its holdings in John Bean Technologies Co. (NYSE:JBT - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,676 shares of the industrial products company's stock after selling 4,139 shares during the quarter. Confluence Investment Management LLC owned approximately 0.33% of John Bean Technologies worth $13,431,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of JBT. Wolverine Asset Management LLC purchased a new position in John Bean Technologies in the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB acquired a new stake in John Bean Technologies during the 3rd quarter worth $39,000. Kimelman & Baird LLC purchased a new stake in John Bean Technologies in the second quarter valued at $85,000. KBC Group NV boosted its stake in John Bean Technologies by 31.5% in the third quarter. KBC Group NV now owns 1,014 shares of the industrial products company's stock valued at $100,000 after acquiring an additional 243 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of John Bean Technologies during the third quarter worth about $186,000. 98.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on JBT. Jefferies Financial Group initiated coverage on John Bean Technologies in a report on Thursday, December 12th. They issued a "hold" rating and a $130.00 target price for the company. CJS Securities assumed coverage on John Bean Technologies in a report on Thursday, December 12th. They issued an "outperform" rating and a $150.00 price objective for the company.
View Our Latest Stock Analysis on JBT
John Bean Technologies Stock Performance
Shares of NYSE JBT traded down $1.78 during midday trading on Thursday, reaching $125.32. 503,315 shares of the company were exchanged, compared to its average volume of 310,231. The stock has a market cap of $3.99 billion, a P/E ratio of 23.25, a PEG ratio of 1.71 and a beta of 1.24. John Bean Technologies Co. has a 1 year low of $82.64 and a 1 year high of $132.69. The stock has a fifty day simple moving average of $121.88 and a 200 day simple moving average of $103.92. The company has a current ratio of 2.55, a quick ratio of 2.00 and a debt-to-equity ratio of 0.41.
John Bean Technologies (NYSE:JBT - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. The company had revenue of $453.80 million for the quarter, compared to the consensus estimate of $442.20 million. During the same period last year, the business posted $1.11 EPS. The company's revenue was up 12.4% on a year-over-year basis. On average, research analysts forecast that John Bean Technologies Co. will post 5.21 earnings per share for the current fiscal year.
John Bean Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Friday, December 13th. John Bean Technologies's payout ratio is 7.42%.
John Bean Technologies Company Profile
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Free Report)
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.
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