Russell Investments Group Ltd. raised its stake in John Bean Technologies Corporation (NYSE:JBT) by 113.1% during the second quarter, Holdings Channel reports. The firm owned 129,412 shares of the industrial products company’s stock after buying an additional 68,689 shares during the period. Russell Investments Group Ltd.’s holdings in John Bean Technologies Corporation were worth $12,683,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in John Bean Technologies Corporation by 8.3% in the first quarter. Wells Fargo & Company MN now owns 1,560,321 shares of the industrial products company’s stock valued at $137,230,000 after buying an additional 119,580 shares during the period. Braun Stacey Associates Inc. boosted its position in John Bean Technologies Corporation by 22.3% in the first quarter. Braun Stacey Associates Inc. now owns 129,956 shares of the industrial products company’s stock valued at $11,429,000 after buying an additional 23,720 shares during the period. Strs Ohio boosted its position in John Bean Technologies Corporation by 36.4% in the first quarter. Strs Ohio now owns 3,000 shares of the industrial products company’s stock valued at $263,000 after buying an additional 800 shares during the period. Profit Investment Management LLC boosted its position in John Bean Technologies Corporation by 28.0% in the first quarter. Profit Investment Management LLC now owns 33,606 shares of the industrial products company’s stock valued at $2,956,000 after buying an additional 7,344 shares during the period. Finally, First Mercantile Trust Co. boosted its position in John Bean Technologies Corporation by 4.4% in the first quarter. First Mercantile Trust Co. now owns 5,340 shares of the industrial products company’s stock valued at $470,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 99.25% of the company’s stock.

Shares of John Bean Technologies Corporation (NYSE:JBT) traded up 1.40% during mid-day trading on Friday, reaching $90.45. The company’s stock had a trading volume of 145,718 shares. The company has a 50 day moving average price of $92.92 and a 200 day moving average price of $89.06. The stock has a market capitalization of $2.86 billion, a P/E ratio of 35.03 and a beta of 1.32. John Bean Technologies Corporation has a 12 month low of $64.28 and a 12 month high of $99.20.

John Bean Technologies Corporation (NYSE:JBT) last released its earnings results on Monday, July 31st. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. John Bean Technologies Corporation had a return on equity of 29.18% and a net margin of 5.32%. The business had revenue of $386.10 million for the quarter, compared to the consensus estimate of $381.49 million. During the same period last year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts anticipate that John Bean Technologies Corporation will post $3.03 earnings per share for the current fiscal year.

The company also recently announced a dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 17th. This is an increase from John Bean Technologies Corporation’s previous dividend of $0.09. John Bean Technologies Corporation’s dividend payout ratio (DPR) is 15.44%.

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Several research firms recently commented on JBT. BidaskClub upgraded John Bean Technologies Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Zacks Investment Research cut John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co began coverage on John Bean Technologies Corporation in a research note on Friday, June 2nd. They issued a “neutral” rating and a $88.00 price target on the stock. Finally, Bank of America Corporation began coverage on John Bean Technologies Corporation in a research note on Thursday, May 18th. They issued a “neutral” rating and a $89.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $99.86.

John Bean Technologies Corporation Company Profile

John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.

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Institutional Ownership by Quarter for John Bean Technologies Corporation (NYSE:JBT)

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