Nationwide Fund Advisors Buys 19,260 Shares of John Bean Technologies Corporation (JBT)

Nationwide Fund Advisors grew its stake in John Bean Technologies Corporation (NYSE:JBT) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,992 shares of the industrial products company’s stock after purchasing an additional 19,260 shares during the period. Nationwide Fund Advisors owned about 0.56% of John Bean Technologies Corporation worth $17,247,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in John Bean Technologies Corporation by 30,340.7% in the 1st quarter. BlackRock Inc. now owns 3,715,900 shares of the industrial products company’s stock worth $326,813,000 after purchasing an additional 3,703,693 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of John Bean Technologies Corporation by 16.5% during the 1st quarter. Vanguard Group Inc. now owns 2,757,581 shares of the industrial products company’s stock worth $242,529,000 after buying an additional 390,070 shares during the period. Wells Fargo & Company MN raised its stake in shares of John Bean Technologies Corporation by 6.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,667,276 shares of the industrial products company’s stock worth $163,393,000 after buying an additional 106,955 shares during the period. JPMorgan Chase & Co. raised its stake in shares of John Bean Technologies Corporation by 5.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,040,802 shares of the industrial products company’s stock worth $101,999,000 after buying an additional 53,975 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of John Bean Technologies Corporation by 30.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 728,675 shares of the industrial products company’s stock worth $71,410,000 after buying an additional 168,142 shares during the period. Institutional investors and hedge funds own 99.25% of the company’s stock.

John Bean Technologies Corporation (JBT) opened at 97.00 on Wednesday. The stock’s 50 day moving average price is $90.38 and its 200 day moving average price is $89.76. The firm has a market capitalization of $3.07 billion, a P/E ratio of 37.57 and a beta of 1.32. John Bean Technologies Corporation has a 52 week low of $66.08 and a 52 week high of $99.20.

John Bean Technologies Corporation (NYSE:JBT) last posted its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.07. John Bean Technologies Corporation had a return on equity of 29.18% and a net margin of 5.32%. The firm had revenue of $386.10 million for the quarter, compared to the consensus estimate of $381.49 million. During the same period in the previous year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities analysts expect that John Bean Technologies Corporation will post $3.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This is an increase from John Bean Technologies Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.41%. John Bean Technologies Corporation’s payout ratio is 15.44%.

In related news, VP Megan J. Rattigan sold 3,103 shares of John Bean Technologies Corporation stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $87.27, for a total value of $270,798.81. Following the sale, the vice president now directly owns 26,091 shares in the company, valued at $2,276,961.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Steven R. Smith sold 10,000 shares of John Bean Technologies Corporation stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $86.78, for a total value of $867,800.00. Following the completion of the sale, the executive vice president now owns 50,811 shares in the company, valued at $4,409,378.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,103 shares of company stock worth $1,314,919. Company insiders own 1.81% of the company’s stock.

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Several research analysts have recently weighed in on JBT shares. Robert W. Baird set a $101.00 target price on John Bean Technologies Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded John Bean Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, J P Morgan Chase & Co started coverage on John Bean Technologies Corporation in a research note on Friday, June 2nd. They set a “neutral” rating and a $88.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $99.86.

John Bean Technologies Corporation 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.

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

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