State of Alaska Department of Revenue grew its position in John Bean Technologies Co. (NYSE:JBT – Get Rating) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,037 shares of the industrial products company’s stock after buying an additional 1,880 shares during the quarter. State of Alaska Department of Revenue’s holdings in John Bean Technologies were worth $2,654,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP acquired a new position in shares of John Bean Technologies in the first quarter worth about $25,000. CWM LLC increased its stake in John Bean Technologies by 176.1% in the 1st quarter. CWM LLC now owns 243 shares of the industrial products company’s stock valued at $29,000 after buying an additional 155 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in John Bean Technologies in the 1st quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC lifted its position in John Bean Technologies by 49.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 292 shares of the industrial products company’s stock worth $35,000 after buying an additional 96 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of John Bean Technologies in the first quarter worth $59,000.
Analyst Ratings Changes
Separately, Robert W. Baird cut their price objective on John Bean Technologies from $140.00 to $128.00 in a report on Thursday, July 28th.
Insiders Place Their Bets
John Bean Technologies Trading Down 5.2 %
John Bean Technologies stock opened at $86.02 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.33 and a quick ratio of 0.84. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.25 and a beta of 1.40. John Bean Technologies Co. has a one year low of $85.97 and a one year high of $177.56. The company’s fifty day moving average price is $107.95 and its two-hundred day moving average price is $111.89.
John Bean Technologies (NYSE:JBT – Get Rating) last posted its earnings results on Wednesday, July 27th. The industrial products company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). The business had revenue of $542.30 million for the quarter, compared to analyst estimates of $552.27 million. John Bean Technologies had a return on equity of 16.69% and a net margin of 6.04%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 earnings per share. On average, analysts forecast that John Bean Technologies Co. will post 4.94 earnings per share for the current fiscal year.
John Bean Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Friday, August 19th. John Bean Technologies’s payout ratio is 10.70%.
John Bean Technologies Profile
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.
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