BlackRock Advisors LLC raised its position in John Bean Technologies Corp. (NYSE:JBT) by 15.2% during the second quarter, Holdings Channel reports. The institutional investor owned 113,988 shares of the company’s stock after buying an additional 15,047 shares during the period. BlackRock Advisors LLC owned about 0.39% of John Bean Technologies Corp. worth $6,978,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock valued at $107,000 after buying an additional 1,090 shares during the period. KBC Group NV bought a new stake in shares of John Bean Technologies Corp. during the second quarter worth about $159,000. Quantbot Technologies LP increased its stake in shares of John Bean Technologies Corp. by 156.7% in the second quarter. Quantbot Technologies LP now owns 3,065 shares of the company’s stock worth $187,000 after buying an additional 1,871 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of John Bean Technologies Corp. during the second quarter worth about $208,000. Finally, PineBridge Investments L.P. increased its stake in shares of John Bean Technologies Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 3,706 shares of the company’s stock worth $227,000 after buying an additional 133 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.
John Bean Technologies Corp. (NYSE:JBT) opened at 71.76 on Friday. The company has a market cap of $2.09 billion, a PE ratio of 37.32 and a beta of 1.35. John Bean Technologies Corp. has a 52 week low of $38.67 and a 52 week high of $74.22. The stock has a 50 day moving average of $69.29 and a 200 day moving average of $63.08.
John Bean Technologies Corp. (NYSE:JBT) last issued its earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The company earned $328.80 million during the quarter, compared to analysts’ expectations of $304.19 million. John Bean Technologies Corp. had a return on equity of 47.47% and a net margin of 4.70%. The firm’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. Equities research analysts predict that John Bean Technologies Corp. will post $2.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.10 dividend. This is a boost from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, August 31st. John Bean Technologies Corp.’s dividend payout ratio is presently 20.83%.
JBT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of John Bean Technologies Corp. from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, July 29th. BB&T Corp. assumed coverage on shares of John Bean Technologies Corp. in a research note on Friday, June 17th. They issued a “buy” rating and a $75.00 price objective on the stock.
In other John Bean Technologies Corp. news, EVP Steven R. Smith sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $66.50, for a total value of $199,500.00. Following the completion of the sale, the executive vice president now directly owns 64,448 shares in the company, valued at approximately $4,285,792. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.45% of the stock is owned by company insiders.
John Bean Technologies Corp. Company Profile
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.