Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its holdings in shares of John Bean Technologies Co. (NYSE:JBT – Free Report) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,636 shares of the industrial products company’s stock after selling 637 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in John Bean Technologies were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of JBT. Virtu Financial LLC acquired a new stake in shares of John Bean Technologies during the second quarter valued at about $456,000. Strs Ohio increased its holdings in John Bean Technologies by 19.0% in the 2nd quarter. Strs Ohio now owns 2,500 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 400 shares during the last quarter. New York State Common Retirement Fund lifted its stake in John Bean Technologies by 6.3% during the first quarter. New York State Common Retirement Fund now owns 41,031 shares of the industrial products company’s stock worth $4,484,000 after purchasing an additional 2,443 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of John Bean Technologies by 2.1% during the first quarter. Brown Advisory Inc. now owns 698,797 shares of the industrial products company’s stock worth $76,372,000 after buying an additional 14,084 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of John Bean Technologies by 30.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,504 shares of the industrial products company’s stock valued at $32,186,000 after buying an additional 68,519 shares in the last quarter. 98.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
JBT has been the subject of a number of research analyst reports. TheStreet cut John Bean Technologies from a “b-” rating to a “c” rating in a report on Tuesday, October 24th. StockNews.com started coverage on shares of John Bean Technologies in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.
John Bean Technologies Stock Performance
Shares of John Bean Technologies stock opened at $106.45 on Tuesday. The business has a 50-day simple moving average of $104.08 and a 200-day simple moving average of $109.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.48 and a current ratio of 1.87. John Bean Technologies Co. has a one year low of $86.16 and a one year high of $125.88. The company has a market cap of $3.39 billion, a PE ratio of 6.09, a P/E/G ratio of 7.20 and a beta of 1.38.
John Bean Technologies (NYSE:JBT – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.12. The business had revenue of $403.60 million during the quarter, compared to analysts’ expectations of $416.38 million. John Bean Technologies had a net margin of 28.66% and a return on equity of 14.32%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. On average, equities research analysts forecast that John Bean Technologies Co. will post 4.01 EPS for the current fiscal year.
About John Bean Technologies
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries in North America, Europe, Middle East, Africa, Asia Pacific, and Latin America. The company operates through two segments: FoodTech and AeroTech. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, foaming, portioning, coating, cooking, frying, freezing, weighing, and inspection.
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