Louisiana State Employees Retirement System Acquires New Shares in John Bean Technologies Co. (NYSE:JBT)

Louisiana State Employees Retirement System acquired a new stake in John Bean Technologies Co. (NYSE:JBT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,900 shares of the industrial products company’s stock, valued at approximately $1,581,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. 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. Conestoga Capital Advisors LLC raised its holdings in shares of John Bean Technologies by 2.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 920,281 shares of the industrial products company’s stock valued at $91,522,000 after acquiring an additional 21,000 shares in the last quarter. Finally, 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. 98.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird reiterated an “outperform” rating and issued a $121.00 target price on shares of John Bean Technologies in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.00.

John Bean Technologies Trading Up 2.2 %

Shares of John Bean Technologies stock opened at $91.73 on Friday. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 1.43 and a beta of 1.29. John Bean Technologies Co. has a 12-month low of $88.97 and a 12-month high of $125.88. The firm’s 50 day simple moving average is $99.79 and its two-hundred day simple moving average is $100.97. The company has a current ratio of 2.27, a quick ratio of 1.78 and a debt-to-equity ratio of 0.43.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.04. John Bean Technologies had a net margin of 33.53% and a return on equity of 12.15%. The firm had revenue of $444.60 million for the quarter, compared to analyst estimates of $445.81 million. During the same quarter in the prior year, the business earned $1.49 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that John Bean Technologies Co. will post 5.15 EPS for the current year.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, March 8th. John Bean Technologies’s dividend payout ratio (DPR) is presently 2.12%.

About John Bean Technologies

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.