Bank of Montreal Can lessened its holdings in John Bean Technologies Co. (NYSE:JBT – Get Rating) by 16.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,620 shares of the industrial products company’s stock after selling 9,454 shares during the quarter. Bank of Montreal Can owned 0.16% of John Bean Technologies worth $4,646,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of John Bean Technologies by 19.9% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,021 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 834 shares during the period. MQS Management LLC acquired a new stake in shares of John Bean Technologies during the third quarter worth about $231,000. RK Capital Management LLC lifted its holdings in shares of John Bean Technologies by 11.8% during the third quarter. RK Capital Management LLC now owns 128,635 shares of the industrial products company’s stock worth $11,063,000 after purchasing an additional 13,560 shares during the period. Nomura Holdings Inc. lifted its holdings in shares of John Bean Technologies by 2.6% during the second quarter. Nomura Holdings Inc. now owns 99,024 shares of the industrial products company’s stock worth $10,988,000 after purchasing an additional 2,487 shares during the period. Finally, Roubaix Capital LLC lifted its holdings in shares of John Bean Technologies by 11.6% during the second quarter. Roubaix Capital LLC now owns 37,987 shares of the industrial products company’s stock worth $4,195,000 after purchasing an additional 3,959 shares during the period. Institutional investors and hedge funds own 98.38% of the company’s stock.
Analyst Upgrades and Downgrades
JBT has been the subject of several recent research reports. William Blair cut John Bean Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. TheStreet upgraded John Bean Technologies from a “c+” rating to a “b” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on John Bean Technologies to $100.00 in a research report on Monday, November 28th. BMO Capital Markets reduced their price target on John Bean Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. Finally, Robert W. Baird reduced their price target on John Bean Technologies from $117.00 to $110.00 in a research report on Thursday, October 27th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.50.
John Bean Technologies Stock Down 0.2 %
John Bean Technologies (NYSE:JBT – Get Rating) last issued 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. John Bean Technologies had a return on equity of 18.85% and a net margin of 6.03%. The firm had revenue of $599.10 million during the quarter, compared to analysts’ expectations of $599.82 million. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts anticipate that John Bean Technologies Co. will post 5.4 EPS for the current fiscal year.
John Bean Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, January 2nd. Investors of record on Monday, December 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Friday, December 16th. John Bean Technologies’s payout ratio is 9.80%.
Insider Buying and Selling
In related news, Director Caroline Maury Devine sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $101.57, for a total transaction of $30,471.00. Following the completion of the sale, the director now directly owns 45,849 shares in the company, valued at $4,656,882.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 900 shares of company stock worth $89,841. 1.30% of the stock is owned by corporate insiders.
John Bean Technologies Profile
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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