US Bancorp DE Reduces Holdings in John Bean Technologies Co. (NYSE:JBT)

US Bancorp DE trimmed its position in shares of John Bean Technologies Co. (NYSE:JBTGet Rating) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,990 shares of the industrial products company’s stock after selling 245 shares during the quarter. US Bancorp DE’s holdings in John Bean Technologies were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of JBT. Wellington Management Group LLP boosted its stake in John Bean Technologies by 64.6% during the first quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock worth $218,546,000 after buying an additional 723,720 shares during the period. Brown Advisory Inc. boosted its stake in John Bean Technologies by 41.9% during the second quarter. Brown Advisory Inc. now owns 637,948 shares of the industrial products company’s stock worth $70,442,000 after buying an additional 188,308 shares during the period. Royal Bank of Canada boosted its stake in John Bean Technologies by 82.0% during the first quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company’s stock worth $44,134,000 after buying an additional 167,866 shares during the period. abrdn plc purchased a new position in John Bean Technologies during the second quarter worth $13,203,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in John Bean Technologies during the third quarter worth $8,699,000. 98.38% of the stock is owned by hedge funds and other institutional investors.

John Bean Technologies Price Performance

Shares of JBT opened at $98.85 on Monday. The company has a 50 day moving average price of $92.75 and a 200-day moving average price of $98.41. John Bean Technologies Co. has a fifty-two week low of $81.59 and a fifty-two week high of $141.77. The stock has a market capitalization of $3.15 billion, a PE ratio of 25.35, a PEG ratio of 1.07 and a beta of 1.33. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 1.41.

John Bean Technologies (NYSE:JBTGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The industrial products company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.05. John Bean Technologies had a net margin of 6.05% and a return on equity of 17.16%. The firm had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $557.57 million. During the same quarter in the prior year, the company earned $1.02 EPS. The company’s revenue was up 16.3% compared to the same quarter last year. Equities analysts predict that John Bean Technologies Co. will post 4.67 earnings per share for the current fiscal year.

John Bean Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 2nd. Stockholders of record on Monday, December 19th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.40%. John Bean Technologies’s payout ratio is currently 10.26%.

Wall Street Analyst Weigh In

JBT has been the subject of a number of recent analyst reports. StockNews.com started coverage on shares of John Bean Technologies in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Robert W. Baird dropped their target price on shares of John Bean Technologies from $117.00 to $110.00 in a research note on Thursday, October 27th. BMO Capital Markets decreased their price target on shares of John Bean Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, November 2nd. William Blair cut John Bean Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 27th. Finally, JPMorgan Chase & Co. decreased their target price on John Bean Technologies to $100.00 in a research report on Monday, November 28th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.50.

Insider Transactions at John Bean Technologies

In related news, CEO Brian A. Deck acquired 1,500 shares of the stock in a transaction dated Friday, October 28th. The stock was acquired at an average cost of $90.91 per share, for a total transaction of $136,365.00. Following the completion of the purchase, the chief executive officer now owns 73,154 shares of the company’s stock, valued at approximately $6,650,430.14. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other John Bean Technologies news, Director Caroline Maury Devine sold 300 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $93.21, for a total value of $27,963.00. Following the transaction, the director now directly owns 46,449 shares in the company, valued at approximately $4,329,511.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian A. Deck bought 1,500 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was purchased at an average price of $90.91 per share, for a total transaction of $136,365.00. Following the completion of the acquisition, the chief executive officer now directly owns 73,154 shares in the company, valued at $6,650,430.14. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 900 shares of company stock worth $84,909. Company insiders own 1.30% of the company’s stock.

John Bean Technologies Company Profile

(Get Rating)

John Bean Technologies Corp. is a technology solutions provider, which engages in the food, beverage, and air transportation industries. It operates through the JBT FoodTech and JBT AeroTech business segments. The JBT FoodTech segment designs, manufactures, and services technologically food processing systems for the preparation of meat, seafood and poultry products, ready-to-eat meals, shelf stable packaged foods, bakery products, juice and dairy products, and fruit and vegetable products.

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

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