Alps Advisors Inc. lowered its position in shares of John Bean Technologies Corp. (NYSE:JBT) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 7,347 shares of the company’s stock after selling 539 shares during the period. Alps Advisors Inc.’s holdings in John Bean Technologies Corp. were worth $450,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Dearborn Partners LLC raised its position in John Bean Technologies Corp. by 7.7% in the second quarter. Dearborn Partners LLC now owns 5,275 shares of the company’s stock worth $323,000 after buying an additional 375 shares during the period. UBS Group AG raised its position in John Bean Technologies Corp. by 6.7% in the first quarter. UBS Group AG now owns 14,364 shares of the company’s stock worth $810,000 after buying an additional 897 shares during the period. Capstone Asset Management Co. raised its position in John Bean Technologies Corp. by 10.7% in the second quarter. Capstone Asset Management Co. now owns 11,045 shares of the company’s stock worth $676,000 after buying an additional 1,070 shares during the period. BlackRock Inc. raised its position in John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock worth $107,000 after buying an additional 1,090 shares during the period. Finally, Prudential Financial Inc. raised its position in John Bean Technologies Corp. by 2.0% in the first quarter. Prudential Financial Inc. now owns 108,076 shares of the company’s stock worth $6,097,000 after buying an additional 2,100 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of John Bean Technologies Corp. (NYSE:JBT) traded up 1.97% on Wednesday, reaching $73.36. 105,896 shares of the company traded hands. The stock has a 50-day moving average price of $68.65 and a 200 day moving average price of $62.44. John Bean Technologies Corp. has a 1-year low of $38.42 and a 1-year high of $74.22. The firm has a market capitalization of $2.14 billion, a P/E ratio of 38.15 and a beta of 1.35.
John Bean Technologies Corp. (NYSE:JBT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 4.70% and a return on equity of 47.47%. John Bean Technologies Corp.’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. Analysts anticipate that John Bean Technologies Corp. will post $2.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.10 dividend. This is an increase from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Wednesday, August 31st. John Bean Technologies Corp.’s payout ratio is currently 20.83%.
A number of research analysts have recently commented on the stock. Zacks Investment Research lowered shares of John Bean Technologies Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. BB&T Corp. assumed coverage on shares of John Bean Technologies Corp. in a research report on Friday, June 17th. They set a “buy” rating and a $75.00 price target for the company.
In other John Bean Technologies Corp. news, EVP Steven R. Smith sold 3,000 shares of John Bean Technologies Corp. stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $66.50, for a total value of $199,500.00. Following the sale, the executive vice president now directly owns 64,448 shares in the company, valued at approximately $4,285,792. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.45% of the stock is currently owned by company insiders.
About John Bean Technologies Corp.
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.
Want to see what other hedge funds are holding JBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for John Bean Technologies Corp. (NYSE:JBT).
Receive News & Ratings for John Bean Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Bean Technologies Corp. and related companies with MarketBeat.com's FREE daily email newsletter.