EAM Investors LLC reduced its holdings in John Bean Technologies Corp (NYSE:JBT) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,645 shares of the industrial products company’s stock after selling 3,911 shares during the quarter. EAM Investors LLC’s holdings in John Bean Technologies were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in John Bean Technologies by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 24,014 shares of the industrial products company’s stock valued at $2,354,000 after purchasing an additional 1,736 shares during the last quarter. California Public Employees Retirement System increased its stake in John Bean Technologies by 6.1% during the third quarter. California Public Employees Retirement System now owns 74,245 shares of the industrial products company’s stock worth $7,506,000 after acquiring an additional 4,245 shares during the last quarter. American Century Companies Inc. increased its stake in John Bean Technologies by 13.6% during the third quarter. American Century Companies Inc. now owns 589,764 shares of the industrial products company’s stock worth $59,625,000 after acquiring an additional 70,721 shares during the last quarter. Cramer Rosenthal Mcglynn LLC increased its stake in John Bean Technologies by 1.4% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 163,790 shares of the industrial products company’s stock worth $16,559,000 after acquiring an additional 2,280 shares during the last quarter. Finally, American International Group Inc. increased its stake in John Bean Technologies by 5.7% during the third quarter. American International Group Inc. now owns 24,903 shares of the industrial products company’s stock worth $2,518,000 after acquiring an additional 1,352 shares during the last quarter.
Several equities research analysts have commented on JBT shares. Bank of America lowered John Bean Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Zacks Investment Research lowered John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Wells Fargo & Co set a $125.00 price target on John Bean Technologies and gave the stock a “buy” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $108.86.
John Bean Technologies (NYSE:JBT) last issued its earnings results on Monday, February 26th. The industrial products company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. John Bean Technologies had a return on equity of 23.93% and a net margin of 4.92%. The company had revenue of $483.70 million during the quarter, compared to the consensus estimate of $470.35 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. research analysts expect that John Bean Technologies Corp will post 3.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Monday, March 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. John Bean Technologies’s dividend payout ratio is currently 15.81%.
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About John Bean Technologies
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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