Gamco Investors INC. ET AL increased its holdings in John Bean Technologies Corp (NYSE:JBT) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,260 shares of the industrial products company’s stock after purchasing an additional 500 shares during the period. Gamco Investors INC. ET AL’s holdings in John Bean Technologies were worth $1,179,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Yorktown Management & Research Co Inc purchased a new stake in shares of John Bean Technologies in the second quarter valued at $249,000. Diversified Trust Co purchased a new stake in shares of John Bean Technologies in the second quarter valued at $289,000. First Midwest Bank Trust Division grew its position in shares of John Bean Technologies by 11.9% in the second quarter. First Midwest Bank Trust Division now owns 4,662 shares of the industrial products company’s stock valued at $414,000 after purchasing an additional 494 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of John Bean Technologies by 14.1% in the second quarter. Xact Kapitalforvaltning AB now owns 4,851 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 600 shares during the period. Finally, Amalgamated Bank grew its position in shares of John Bean Technologies by 13.0% in the second quarter. Amalgamated Bank now owns 5,117 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 588 shares during the period.
JBT stock opened at $120.70 on Friday. John Bean Technologies Corp has a 12-month low of $84.81 and a 12-month high of $122.65. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 1.06. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 1.86 and a beta of 1.21.
John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $474.59 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. research analysts anticipate that John Bean Technologies Corp will post 4.02 earnings per share for the current year.
The company 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Friday, August 17th. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. John Bean Technologies’s payout ratio is 12.90%.
A number of brokerages have recently commented on JBT. ValuEngine raised John Bean Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. TheStreet raised John Bean Technologies from a “c+” rating to an “a-” rating in a research report on Thursday, July 26th. Zacks Investment Research raised John Bean Technologies from a “sell” rating to a “hold” rating and set a $123.00 price target for the company in a research report on Saturday, July 28th. Finally, BMO Capital Markets boosted their price target on John Bean Technologies from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $109.17.
John Bean Technologies Company Profile
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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