New York State Teachers Retirement System decreased its holdings in John Bean Technologies Corp (NYSE:JBT) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,851 shares of the industrial products company’s stock after selling 600 shares during the period. New York State Teachers Retirement System’s holdings in John Bean Technologies were worth $7,246,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in John Bean Technologies by 62.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 357 shares of the industrial products company’s stock worth $26,000 after buying an additional 137 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of John Bean Technologies in the 4th quarter valued at $36,000. Quantamental Technologies LLC acquired a new stake in shares of John Bean Technologies in the 1st quarter valued at $81,000. Advisor Group Inc. boosted its holdings in shares of John Bean Technologies by 18.2% in the 4th quarter. Advisor Group Inc. now owns 1,421 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 219 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of John Bean Technologies by 7.3% in the 1st quarter. Parallel Advisors LLC now owns 1,520 shares of the industrial products company’s stock valued at $140,000 after purchasing an additional 103 shares in the last quarter.
A number of brokerages have weighed in on JBT. ValuEngine raised John Bean Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Co increased their price target on John Bean Technologies from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Zacks Investment Research upgraded John Bean Technologies from a “hold” rating to a “strong-buy” rating and set a $117.00 price target for the company in a research note on Wednesday, May 1st. Wellington Shields cut John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, TheStreet upgraded John Bean Technologies from a “c+” rating to a “b” rating in a research note on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $103.60.
Shares of JBT opened at $103.73 on Friday. John Bean Technologies Corp has a 52 week low of $66.28 and a 52 week high of $123.90. The firm has a market capitalization of $3.55 billion, a PE ratio of 24.24, a PEG ratio of 2.22 and a beta of 1.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.38 and a quick ratio of 0.88.
John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.31. John Bean Technologies had a return on equity of 34.12% and a net margin of 6.36%. The company had revenue of $417.50 million during the quarter, compared to analysts’ expectations of $390.44 million. During the same period in the prior year, the company earned $0.34 EPS. John Bean Technologies’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts expect that John Bean Technologies Corp will post 4.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, May 22nd. John Bean Technologies’s payout ratio is 9.35%.
In related news, EVP James L. Marvin sold 1,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $92.53, for a total transaction of $138,795.00. Following the completion of the transaction, the executive vice president now directly owns 24,679 shares of the company’s stock, valued at approximately $2,283,547.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.23% of the stock is owned by company insiders.
John Bean Technologies Profile
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to 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, 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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