Mirae Asset Global Investments Co. Ltd. Acquires 80,690 Shares of John Bean Technologies Co. (NYSE:JBT)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of John Bean Technologies Co. (NYSE:JBT) by 27.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,194 shares of the industrial products company’s stock after purchasing an additional 80,690 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.18% of John Bean Technologies worth $45,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of John Bean Technologies by 0.9% in the third quarter. Vanguard Group Inc. now owns 3,427,710 shares of the industrial products company’s stock valued at $294,782,000 after acquiring an additional 31,812 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of John Bean Technologies by 64.6% in the first quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after acquiring an additional 723,720 shares in the last quarter. State Street Corp raised its holdings in shares of John Bean Technologies by 3.7% in the first quarter. State Street Corp now owns 1,072,846 shares of the industrial products company’s stock valued at $127,100,000 after acquiring an additional 38,132 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of John Bean Technologies by 2.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 910,912 shares of the industrial products company’s stock valued at $99,554,000 after acquiring an additional 23,731 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. raised its holdings in shares of John Bean Technologies by 12.0% in the first quarter. Turtle Creek Asset Management Inc. now owns 780,949 shares of the industrial products company’s stock valued at $85,350,000 after acquiring an additional 83,500 shares in the last quarter. 98.19% of the stock is currently owned by institutional investors.

John Bean Technologies Trading Up 1.2 %

John Bean Technologies stock opened at $106.96 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.87 and a debt-to-equity ratio of 0.47. John Bean Technologies Co. has a 52 week low of $86.16 and a 52 week high of $125.88. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 6.12, a price-to-earnings-growth ratio of 7.20 and a beta of 1.38. The stock has a 50-day moving average price of $104.11 and a 200 day moving average price of $109.76.

John Bean Technologies (NYSE:JBT) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. John Bean Technologies had a return on equity of 14.32% and a net margin of 28.66%. The firm had revenue of $403.60 million during the quarter, compared to the consensus estimate of $416.38 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that John Bean Technologies Co. will post 4.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JBT. StockNews.com began coverage on John Bean Technologies in a report on Thursday, October 5th. They issued a “hold” rating for the company. TheStreet lowered John Bean Technologies from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

John Bean Technologies Company Profile

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.