John Bean Technologies Corp. (JBT) Stake Decreased by Advisors Asset Management Inc.
Advisors Asset Management Inc. cut its stake in John Bean Technologies Corp. (NYSE:JBT) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 13,629 shares of the company’s stock after selling 799 shares during the period. Advisors Asset Management Inc.’s holdings in John Bean Technologies Corp. were worth $834,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in JBT. Norges Bank acquired a new position in John Bean Technologies Corp. during the fourth quarter valued at approximately $13,007,000. Aperio Group LLC boosted its stake in shares of John Bean Technologies Corp. by 27.5% in the first quarter. Aperio Group LLC now owns 10,568 shares of the company’s stock valued at $596,000 after buying an additional 2,279 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of John Bean Technologies Corp. by 5.0% in the first quarter. Teachers Advisors Inc. now owns 322,565 shares of the company’s stock valued at $18,196,000 after buying an additional 15,398 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of John Bean Technologies Corp. by 2.0% in the first quarter. Prudential Financial Inc. now owns 108,076 shares of the company’s stock valued at $6,097,000 after buying an additional 2,100 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of John Bean Technologies Corp. by 27.4% in the first quarter. Algert Global LLC now owns 17,026 shares of the company’s stock valued at $960,000 after buying an additional 3,657 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.
John Bean Technologies Corp. (NYSE:JBT) traded down 1.23% during trading on Friday, hitting $68.24. The stock had a trading volume of 41,596 shares. The stock has a 50-day moving average price of $67.83 and a 200-day moving average price of $61.43. The company has a market cap of $1.99 billion, a PE ratio of 35.49 and a beta of 1.37. John Bean Technologies Corp. has a 52 week low of $36.64 and a 52 week high of $71.00.
John Bean Technologies Corp. (NYSE:JBT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The company had revenue of $328.80 million for the quarter, compared to the consensus estimate of $304.19 million. John Bean Technologies Corp. had a return on equity of 47.47% and a net margin of 4.70%. The firm’s revenue was up 29.1% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. Equities analysts predict that John Bean Technologies Corp. will post $2.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, August 31st. This is a boost from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. John Bean Technologies Corp.’s dividend payout ratio (DPR) is presently 20.83%.
Several analysts have issued reports on JBT shares. BB&T Corp. started coverage on John Bean Technologies Corp. in a research note on Friday, June 17th. They set a “buy” rating and a $75.00 price objective on the stock. Zacks Investment Research upgraded John Bean Technologies Corp. from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, July 29th.
In related news, EVP Steven R. Smith sold 3,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $66.50, for a total value of $199,500.00. Following the completion of the sale, the executive vice president now owns 64,448 shares in the company, valued at $4,285,792. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.45% of the stock is currently owned by corporate insiders.
John Bean Technologies Corp. Company Profile
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.
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