California Public Employees Retirement System Raises Stake in John Bean Technologies Corp (JBT)

California Public Employees Retirement System grew its holdings in John Bean Technologies Corp (NYSE:JBT) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,356 shares of the industrial products company’s stock after acquiring an additional 1,100 shares during the period. California Public Employees Retirement System owned about 0.19% of John Bean Technologies worth $4,262,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Diversified Trust Co raised its stake in shares of John Bean Technologies by 6.2% in the 3rd quarter. Diversified Trust Co now owns 3,452 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 200 shares during the period. Bank of Montreal Can raised its stake in shares of John Bean Technologies by 2.3% in the 4th quarter. Bank of Montreal Can now owns 9,936 shares of the industrial products company’s stock valued at $714,000 after acquiring an additional 226 shares during the period. Piedmont Investment Advisors Inc. raised its stake in shares of John Bean Technologies by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 7,516 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 250 shares during the period. Advisors Asset Management Inc. raised its stake in shares of John Bean Technologies by 5.0% in the 4th quarter. Advisors Asset Management Inc. now owns 5,379 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 256 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of John Bean Technologies by 26.0% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,198 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 453 shares during the period.

Several equities research analysts recently issued reports on JBT shares. TheStreet raised shares of John Bean Technologies from a “c+” rating to a “b” rating in a research note on Tuesday, February 26th. Zacks Investment Research raised shares of John Bean Technologies from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Thursday, February 28th. Wellington Shields raised shares of John Bean Technologies from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, February 12th. Robert W. Baird set a $83.00 price target on shares of John Bean Technologies and gave the stock a “hold” rating in a research note on Friday, January 25th. Finally, ValuEngine raised shares of John Bean Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. John Bean Technologies presently has a consensus rating of “Hold” and a consensus price target of $95.57.

In other news, EVP James L. Marvin sold 1,500 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $85.00, for a total value of $127,500.00. Following the completion of the sale, the executive vice president now owns 19,402 shares of the company’s stock, valued at approximately $1,649,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.24% of the stock is currently owned by insiders.

John Bean Technologies stock opened at $91.11 on Friday. John Bean Technologies Corp has a 12-month low of $66.28 and a 12-month high of $123.90. The firm has a market cap of $2.84 billion, a P/E ratio of 21.29, a PEG ratio of 1.94 and a beta of 1.42. The company has a current ratio of 1.27, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Monday, February 25th. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.27. John Bean Technologies had a net margin of 5.42% and a return on equity of 32.09%. The firm had revenue of $537.30 million for the quarter, compared to the consensus estimate of $536.33 million. During the same quarter in the previous year, the firm posted $1.10 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that John Bean Technologies Corp will post 4.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Wednesday, March 6th. John Bean Technologies’s payout ratio is currently 9.35%.

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John Bean Technologies Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to 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, 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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Institutional Ownership by Quarter for John Bean Technologies (NYSE:JBT)

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