Teachers Retirement System of The State of Kentucky Makes New $10.80 Million Investment in John Bean Technologies Co. (NYSE:JBT)

Teachers Retirement System of The State of Kentucky bought a new position in shares of John Bean Technologies Co. (NYSE:JBT – Get Rating) in the third quarter, Holdings Channel.com reports. The firm bought 125,591 shares of the industrial products company’s stock, valued at approximately $10,800,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in John Bean Technologies by 0.9% during the third quarter. Vanguard Group Inc. now owns 3,427,710 shares of the industrial products company’s stock worth $294,782,000 after purchasing an additional 31,812 shares during the period. Price T Rowe Associates Inc. MD boosted its position in John Bean Technologies by 0.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,090,005 shares of the industrial products company’s stock worth $230,778,000 after purchasing an additional 13,604 shares during the period. Wellington Management Group LLP boosted its position 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 purchasing an additional 723,720 shares during the period. State Street Corp boosted its position in John Bean Technologies by 3.7% during the first quarter. State Street Corp now owns 1,072,846 shares of the industrial products company’s stock worth $127,100,000 after purchasing an additional 38,132 shares during the period. Finally, Brown Advisory Inc. boosted its position in shares of John Bean Technologies by 4.9% in the third quarter. Brown Advisory Inc. now owns 694,884 shares of the industrial products company’s stock valued at $59,760,000 after acquiring an additional 32,723 shares during the period. Institutional investors own 98.38% of the company’s stock.

John Bean Technologies Trading Up 2.6 %

Shares of John Bean Technologies stock opened at $105.38 on Friday. John Bean Technologies Co. has a 1 year low of $81.59 and a 1 year high of $126.75. The firm has a market cap of $3.35 billion, a PE ratio of 25.83, a PEG ratio of 1.25 and a beta of 1.39. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 0.88. The company has a 50 day simple moving average of $106.80 and a two-hundred day simple moving average of $97.47.

John Bean Technologies (NYSE:JBT – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. The firm had revenue of $599.10 million for the quarter, compared to the consensus estimate of $599.82 million. John Bean Technologies had a net margin of 6.03% and a return on equity of 18.85%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Analysts expect that John Bean Technologies Co. will post 5.29 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Monday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, March 3rd. John Bean Technologies’s dividend payout ratio (DPR) is presently 9.80%.

Insiders Place Their Bets

In related news, Director Caroline Maury Devine sold 300 shares of John Bean Technologies stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $109.65, for a total value of $32,895.00. Following the transaction, the director now directly owns 45,549 shares of the company’s stock, valued at $4,994,447.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 900 shares of company stock valued at $89,841. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on JBT. StockNews.com began coverage on shares of John Bean Technologies in a research report on Thursday. They issued a “hold” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of John Bean Technologies to $100.00 in a research report on Monday, November 28th. Finally, TheStreet upgraded shares of John Bean Technologies from a “c+” rating to a “b” rating in a research report on Tuesday, February 21st.

John Bean Technologies Company Profile

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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.