Epoch Investment Partners Inc. trimmed its holdings in shares of John Bean Technologies Corp (NYSE:JBT) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,033 shares of the industrial products company’s stock after selling 38,939 shares during the period. Epoch Investment Partners Inc. owned about 0.75% of John Bean Technologies worth $28,159,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in John Bean Technologies during the third quarter valued at about $169,000. BB&T Corp purchased a new stake in John Bean Technologies during the third quarter valued at about $224,000. Carnegie Capital Asset Management LLC purchased a new stake in John Bean Technologies during the second quarter valued at about $239,000. Barrett Asset Management LLC purchased a new stake in John Bean Technologies during the third quarter valued at about $239,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in John Bean Technologies during the second quarter valued at about $249,000.
John Bean Technologies stock opened at $74.62 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.38 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.46 billion, a PE ratio of 20.79, a PEG ratio of 1.23 and a beta of 1.19. John Bean Technologies Corp has a 1-year low of $73.59 and a 1-year high of $123.90.
John Bean Technologies (NYSE:JBT) last posted its earnings results on Wednesday, October 31st. The industrial products company reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.05). The firm had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $489.81 million. John Bean Technologies had a return on equity of 28.31% and a net margin of 4.32%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. Sell-side analysts predict that John Bean Technologies Corp will post 4.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be issued a $0.10 dividend. The ex-dividend date is Friday, December 14th. This represents a $0.40 annualized dividend and a yield of 0.54%. John Bean Technologies’s dividend payout ratio (DPR) is presently 12.90%.
In other John Bean Technologies news, EVP Carlos Fernandez sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $80.56, for a total value of $80,560.00. Following the completion of the sale, the executive vice president now directly owns 16,212 shares in the company, valued at $1,306,038.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.24% of the company’s stock.
Several analysts have issued reports on JBT shares. Zacks Investment Research lowered shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. JPMorgan Chase & Co. lowered shares of John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 target price for the company. in a report on Friday, September 21st. ValuEngine lowered shares of John Bean Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Robert W. Baird dropped their target price on shares of John Bean Technologies from $119.00 to $95.00 and set a “hold” rating for the company in a report on Friday, November 2nd. Finally, BMO Capital Markets dropped their target price on shares of John Bean Technologies to $105.00 and set an “outperform” rating for the company in a report on Thursday, November 29th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. John Bean Technologies has an average rating of “Hold” and an average price target of $98.43.
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About John Bean Technologies
John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
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