Cramer Rosenthal Mcglynn LLC trimmed its holdings in shares of John Bean Technologies Corp (NYSE:JBT) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,380 shares of the industrial products company’s stock after selling 31,410 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.42% of John Bean Technologies worth $14,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in JBT. Carillon Tower Advisers Inc. purchased a new position in John Bean Technologies during the 4th quarter worth $69,094,000. Bamco Inc. NY grew its stake in John Bean Technologies by 93.3% during the 3rd quarter. Bamco Inc. NY now owns 773,300 shares of the industrial products company’s stock worth $78,181,000 after buying an additional 373,300 shares during the last quarter. Global X Management Co. LLC grew its stake in John Bean Technologies by 128.0% during the 4th quarter. Global X Management Co. LLC now owns 351,418 shares of the industrial products company’s stock worth $38,937,000 after buying an additional 197,270 shares during the last quarter. Eagle Asset Management Inc. grew its stake in John Bean Technologies by 17.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 852,476 shares of the industrial products company’s stock worth $86,611,000 after buying an additional 123,801 shares during the last quarter. Finally, BlackRock Inc. grew its stake in John Bean Technologies by 3.2% during the 4th quarter. BlackRock Inc. now owns 3,924,309 shares of the industrial products company’s stock worth $434,813,000 after buying an additional 121,001 shares during the last quarter.
Shares of John Bean Technologies Corp (NYSE:JBT) opened at $120.10 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 1.33. The firm has a market capitalization of $3,765.58, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.32. John Bean Technologies Corp has a one year low of $82.45 and a one year high of $122.65.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Monday, March 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, March 2nd. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. John Bean Technologies’s payout ratio is presently 15.81%.
Several brokerages recently weighed in on JBT. BMO Capital Markets boosted their target price on John Bean Technologies to $125.00 and gave the stock an “outperform” rating in a research note on Monday, March 5th. Zacks Investment Research upgraded John Bean Technologies from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Saturday, March 3rd. Finally, Wells Fargo & Co set a $130.00 price target on John Bean Technologies and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $110.57.
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About John Bean Technologies
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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