Profit Investment Management LLC trimmed its stake in shares of John Bean Technologies Co. (NYSE:JBT – Free Report) by 17.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,900 shares of the industrial products company’s stock after selling 5,799 shares during the period. John Bean Technologies comprises 2.1% of Profit Investment Management LLC’s holdings, making the stock its 18th biggest position. Profit Investment Management LLC’s holdings in John Bean Technologies were worth $3,263,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd lifted its position in John Bean Technologies by 19.2% during the second quarter. Point72 Hong Kong Ltd now owns 597 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 96 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in John Bean Technologies by 5.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 1,944 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 106 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in John Bean Technologies by 5.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,944 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 106 shares during the last quarter. Pitcairn Co. lifted its position in John Bean Technologies by 4.0% during the first quarter. Pitcairn Co. now owns 2,824 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 108 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in John Bean Technologies by 26.1% during the first quarter. Van ECK Associates Corp now owns 642 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 133 shares during the last quarter. 98.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have commented on JBT. Robert W. Baird reiterated an “outperform” rating and set a $128.00 price objective on shares of John Bean Technologies in a research report on Friday, June 30th. 58.com restated a “reiterates” rating on shares of John Bean Technologies in a report on Friday, June 30th. StockNews.com assumed coverage on shares of John Bean Technologies in a report on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet upgraded shares of John Bean Technologies from a “c+” rating to a “b-” rating in a report on Monday, July 3rd. Finally, 888 restated a “reiterates” rating on shares of John Bean Technologies in a report on Friday, June 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.00.
John Bean Technologies Trading Down 0.8 %
Shares of JBT opened at $109.01 on Friday. John Bean Technologies Co. has a 1-year low of $81.59 and a 1-year high of $125.88. The company has a 50-day moving average of $112.69 and a 200 day moving average of $110.56. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 7.54 and a beta of 1.40. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.45 and a quick ratio of 1.06.
John Bean Technologies (NYSE:JBT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). John Bean Technologies had a net margin of 6.08% and a return on equity of 17.20%. The company had revenue of $427.70 million for the quarter, compared to the consensus estimate of $466.98 million. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that John Bean Technologies Co. will post 3.94 EPS for the current year.
John Bean Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.37%. John Bean Technologies’s payout ratio is 9.98%.
About John Bean Technologies
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries in North America, Europe, Middle East, Africa, Asia Pacific, and Latin America. The company operates through two segments: FoodTech and AeroTech. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, foaming, portioning, coating, cooking, frying, freezing, weighing, and inspection.
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