John Bean Technologies Co. (NYSE:JBT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in shares of John Bean Technologies Co. (NYSE:JBT) by 1.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,833 shares of the industrial products company’s stock after selling 174 shares during the quarter. HighTower Advisors LLC’s holdings in John Bean Technologies were worth $1,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of John Bean Technologies by 57.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company’s stock worth $121,507,000 after purchasing an additional 466,846 shares during the period. Conestoga Capital Advisors LLC raised its position in shares of John Bean Technologies by 2.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 951,534 shares of the industrial products company’s stock worth $90,367,000 after purchasing an additional 24,981 shares during the period. Royce & Associates LP raised its position in shares of John Bean Technologies by 7.2% during the 3rd quarter. Royce & Associates LP now owns 858,523 shares of the industrial products company’s stock worth $84,573,000 after purchasing an additional 57,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of John Bean Technologies by 170.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,184 shares of the industrial products company’s stock worth $82,964,000 after purchasing an additional 531,298 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of John Bean Technologies by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 778,178 shares of the industrial products company’s stock worth $73,908,000 after purchasing an additional 19,549 shares during the period. 98.92% of the stock is currently owned by institutional investors and hedge funds.

John Bean Technologies Stock Performance

Shares of JBT stock opened at $122.22 on Tuesday. John Bean Technologies Co. has a 12-month low of $82.64 and a 12-month high of $128.23. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. The business has a 50 day simple moving average of $114.99 and a 200 day simple moving average of $101.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.55 and a quick ratio of 2.00.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. The business had revenue of $453.80 million during the quarter, compared to analyst estimates of $442.20 million. During the same period in the prior year, the company posted $1.11 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that John Bean Technologies Co. will post 5.23 EPS for the current year.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, December 13th. John Bean Technologies’s payout ratio is currently 7.42%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on John Bean Technologies in a research report on Thursday, December 12th. They set a “hold” rating and a $130.00 price target on the stock. CJS Securities assumed coverage on John Bean Technologies in a research report on Thursday, December 12th. They set an “outperform” rating and a $150.00 price target on the stock.

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.