Geode Capital Management LLC Sells 1,750 Shares of John Bean Technologies Corp (JBT)

Geode Capital Management LLC decreased its position in John Bean Technologies Corp (NYSE:JBT) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 262,011 shares of the industrial products company’s stock after selling 1,750 shares during the period. Geode Capital Management LLC’s holdings in John Bean Technologies were worth $29,030,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC purchased a new stake in John Bean Technologies in the fourth quarter worth about $245,000. Carnegie Capital Asset Management LLC purchased a new stake in John Bean Technologies in the fourth quarter worth about $244,000. Cortina Asset Management LLC increased its position in John Bean Technologies by 14.1% in the fourth quarter. Cortina Asset Management LLC now owns 221,611 shares of the industrial products company’s stock worth $24,554,000 after buying an additional 27,373 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in John Bean Technologies in the fourth quarter worth about $69,094,000. Finally, OppenheimerFunds Inc. increased its position in John Bean Technologies by 3.1% in the fourth quarter. OppenheimerFunds Inc. now owns 375,302 shares of the industrial products company’s stock worth $41,584,000 after buying an additional 11,323 shares in the last quarter.

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Shares of JBT stock opened at $113.05 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.33 and a quick ratio of 0.90. The company has a market capitalization of $3,771.89, a PE ratio of 44.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.32. John Bean Technologies Corp has a 1 year low of $82.45 and a 1 year high of $122.65.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings results on Monday, February 26th. The industrial products company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $470.35 million. John Bean Technologies had a return on equity of 23.93% and a net margin of 4.92%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. sell-side analysts expect that John Bean Technologies Corp will post 3.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Monday, March 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.35%. This is a boost from John Bean Technologies’s previous quarterly dividend of $0.09. John Bean Technologies’s dividend payout ratio (DPR) is currently 15.81%.

A number of brokerages have commented on JBT. Zacks Investment Research cut John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Wells Fargo set a $130.00 price target on John Bean Technologies and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $110.57.

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John Bean Technologies Company Profile

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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Institutional Ownership by Quarter for John Bean Technologies (NYSE:JBT)

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