Louisiana State Employees Retirement System maintained its stake in shares of John Bean Technologies Corp. (NYSE:JBT) during the second quarter, Holdings Channel reports. The firm owned 12,900 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in John Bean Technologies Corp. were worth $790,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock valued at $107,000 after buying an additional 1,090 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of John Bean Technologies Corp. during the first quarter valued at approximately $276,000. Dearborn Partners LLC boosted its stake in shares of John Bean Technologies Corp. by 7.7% in the second quarter. Dearborn Partners LLC now owns 5,275 shares of the company’s stock valued at $323,000 after buying an additional 375 shares during the period. Menta Capital LLC acquired a new stake in shares of John Bean Technologies Corp. during the first quarter valued at approximately $327,000. Finally, Parametrica Management Ltd acquired a new stake in shares of John Bean Technologies Corp. during the second quarter valued at approximately $414,000. 99.02% of the stock is owned by institutional investors and hedge funds.
Shares of John Bean Technologies Corp. (NYSE:JBT) traded down 1.61% during mid-day trading on Friday, hitting $72.51. The company had a trading volume of 68,590 shares. The firm’s 50-day moving average price is $68.95 and its 200 day moving average price is $62.64. John Bean Technologies Corp. has a one year low of $38.42 and a one year high of $74.22. The company has a market capitalization of $2.11 billion, a P/E ratio of 37.71 and a beta of 1.35.
John Bean Technologies Corp. (NYSE:JBT) last issued its earnings results on Tuesday, July 26th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.56 by $0.11. The company earned $328.80 million during the quarter, compared to analysts’ expectations of $304.19 million. John Bean Technologies Corp. had a net margin of 4.70% and a return on equity of 47.47%. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. Analysts predict that John Bean Technologies Corp. will post $2.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.10 per share. This is a boost from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, August 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. John Bean Technologies Corp.’s payout ratio is presently 20.83%.
JBT has been the subject of several recent analyst reports. Zacks Investment Research raised John Bean Technologies Corp. from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, July 29th. BB&T Corp. began coverage on John Bean Technologies Corp. in a report on Friday, June 17th. They set a “buy” rating and a $75.00 price objective for the company.
In other news, EVP Steven R. Smith sold 3,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 64,448 shares of the company’s stock, valued at approximately $4,285,792. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.45% of the company’s stock.
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.
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