Oak Ridge Investments LLC reduced its holdings in shares of John Bean Technologies Corp (NYSE:JBT) by 19.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,472 shares of the industrial products company’s stock after selling 10,000 shares during the period. Oak Ridge Investments LLC owned approximately 0.13% of John Bean Technologies worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of John Bean Technologies by 8.3% in the second quarter. BlackRock Inc. now owns 4,366,522 shares of the industrial products company’s stock valued at $388,186,000 after purchasing an additional 333,968 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of John Bean Technologies by 2.1% in the second quarter. Eagle Asset Management Inc. now owns 921,199 shares of the industrial products company’s stock valued at $81,894,000 after purchasing an additional 19,352 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of John Bean Technologies by 1.1% in the second quarter. Artisan Partners Limited Partnership now owns 687,407 shares of the industrial products company’s stock valued at $61,110,000 after purchasing an additional 7,766 shares during the period. Carillon Tower Advisers Inc. increased its holdings in shares of John Bean Technologies by 7.9% in the second quarter. Carillon Tower Advisers Inc. now owns 684,254 shares of the industrial products company’s stock valued at $60,830,000 after purchasing an additional 50,000 shares during the period. Finally, FMR LLC increased its holdings in shares of John Bean Technologies by 18.5% in the second quarter. FMR LLC now owns 531,891 shares of the industrial products company’s stock valued at $47,285,000 after purchasing an additional 83,191 shares during the period.
A number of research analysts have recently weighed in on JBT shares. ValuEngine raised John Bean Technologies from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research raised John Bean Technologies from a “sell” rating to a “hold” rating and set a $123.00 price objective on the stock in a report on Saturday, July 28th. Finally, BMO Capital Markets upped their target price on John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $109.17.
Shares of JBT opened at $118.85 on Wednesday. John Bean Technologies Corp has a 52 week low of $84.81 and a 52 week high of $122.65. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $3.74 billion, a PE ratio of 38.34, a P/E/G ratio of 1.83 and a beta of 1.21.
John Bean Technologies (NYSE:JBT) last issued its earnings results on Wednesday, July 25th. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. John Bean Technologies had a return on equity of 26.58% and a net margin of 4.43%. The firm had revenue of $491.30 million for the quarter, compared to the consensus estimate of $474.59 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year. research analysts predict that John Bean Technologies Corp will post 4.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 20th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 17th. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. John Bean Technologies’s dividend payout ratio is currently 12.90%.
About John Bean Technologies
John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
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