Bank of New York Mellon Corp trimmed its position in John Bean Technologies Corp (NYSE:JBT) by 15.9% during the 4th quarter, Holdings Channel reports. The firm owned 394,003 shares of the industrial products company’s stock after selling 74,752 shares during the period. Bank of New York Mellon Corp’s holdings in John Bean Technologies were worth $43,656,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the business. Rhumbline Advisers boosted its position in John Bean Technologies by 15.5% in the fourth quarter. Rhumbline Advisers now owns 75,422 shares of the industrial products company’s stock worth $8,357,000 after purchasing an additional 10,103 shares during the last quarter. Arizona State Retirement System raised its stake in shares of John Bean Technologies by 224.1% in the fourth quarter. Arizona State Retirement System now owns 53,057 shares of the industrial products company’s stock worth $5,879,000 after buying an additional 36,684 shares during the period. Eagle Asset Management Inc. raised its stake in shares of John Bean Technologies by 4.0% in the fourth quarter. Eagle Asset Management Inc. now owns 886,961 shares of the industrial products company’s stock worth $98,210,000 after buying an additional 34,485 shares during the period. Pinebridge Investments L.P. raised its stake in shares of John Bean Technologies by 150.5% in the fourth quarter. Pinebridge Investments L.P. now owns 9,832 shares of the industrial products company’s stock worth $1,089,000 after buying an additional 5,907 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of John Bean Technologies by 128.0% in the fourth quarter. Global X Management Co. LLC now owns 351,418 shares of the industrial products company’s stock worth $38,937,000 after buying an additional 197,270 shares during the period.
Several research analysts have recently commented on JBT shares. Zacks Investment Research raised John Bean Technologies from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Thursday, December 14th. Wells Fargo & Co set a $125.00 price objective on John Bean Technologies and gave the stock a “buy” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $110.57.
John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Monday, February 26th. The industrial products company reported $1.10 EPS for the quarter, topping the 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 firm had revenue of $483.70 million for the quarter, compared to the consensus estimate of $470.35 million. During the same quarter last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. research analysts expect that John Bean Technologies Corp will post 3.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Monday, March 5th will be paid a $0.10 dividend. The ex-dividend date is Friday, March 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.34%. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. John Bean Technologies’s dividend payout ratio (DPR) is 13.07%.
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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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