Raymond James & Associates cut its holdings in shares of John Bean Technologies Corp (NYSE:JBT) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,988 shares of the industrial products company’s stock after selling 739 shares during the period. Raymond James & Associates’ holdings in John Bean Technologies were worth $1,439,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of John Bean Technologies by 0.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 942,485 shares of the industrial products company’s stock valued at $104,428,000 after acquiring an additional 5,686 shares in the last quarter. Profund Advisors LLC grew its stake in shares of John Bean Technologies by 17.5% during the fourth quarter. Profund Advisors LLC now owns 4,652 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 692 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of John Bean Technologies during the fourth quarter valued at about $690,000. Alliancebernstein L.P. grew its stake in shares of John Bean Technologies by 3.2% during the fourth quarter. Alliancebernstein L.P. now owns 365,062 shares of the industrial products company’s stock valued at $40,449,000 after acquiring an additional 11,338 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of John Bean Technologies during the fourth quarter valued at about $5,975,000.
Several brokerages have recently weighed in on JBT. Zacks Investment Research downgraded John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. BMO Capital Markets lifted their price target on John Bean Technologies to $125.00 and gave the stock an “outperform” rating in a research note on Monday, March 5th. Finally, Wells Fargo set a $130.00 price target on John Bean Technologies and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $111.83.
John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Monday, February 26th. The industrial products company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.02. The business had revenue of $483.70 million during the quarter, compared to the consensus estimate of $470.35 million. John Bean Technologies had a return on equity of 23.93% and a net margin of 4.92%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. analysts predict that John Bean Technologies Corp will post 3.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Monday, March 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.35%. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 2nd. John Bean Technologies’s dividend payout ratio (DPR) is 12.90%.
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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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