Fmr LLC Decreases Stock Holdings in John Bean Technologies Co. (NYSE:JBT)

Fmr LLC reduced its position in shares of John Bean Technologies Co. (NYSE:JBT) by 47.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,074 shares of the industrial products company’s stock after selling 1,854 shares during the quarter. Fmr LLC’s holdings in John Bean Technologies were worth $204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wolverine Asset Management LLC bought a new stake in shares of John Bean Technologies in the 3rd quarter worth about $39,000. Innealta Capital LLC purchased a new stake in John Bean Technologies in the 2nd quarter worth about $73,000. Kimelman & Baird LLC bought a new stake in John Bean Technologies in the second quarter worth about $85,000. KBC Group NV boosted its position in shares of John Bean Technologies by 31.5% during the third quarter. KBC Group NV now owns 1,014 shares of the industrial products company’s stock valued at $100,000 after buying an additional 243 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of John Bean Technologies during the third quarter valued at approximately $187,000. 98.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JBT. CJS Securities initiated coverage on shares of John Bean Technologies in a research note on Thursday, December 12th. They set an “outperform” rating and a $150.00 target price for the company. Jefferies Financial Group assumed coverage on shares of John Bean Technologies in a research note on Thursday, December 12th. They issued a “hold” rating and a $130.00 target price on the stock.

John Bean Technologies Stock Performance

NYSE:JBT opened at $124.78 on Friday. The company has a fifty day moving average of $117.11 and a two-hundred day moving average of $101.90. John Bean Technologies Co. has a fifty-two week low of $82.64 and a fifty-two week high of $128.23. The stock has a market capitalization of $3.97 billion, a PE ratio of 23.15, a P/E/G ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.00 and a current ratio of 2.55.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating 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 business earned $1.11 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, research analysts forecast that John Bean Technologies Co. will post 5.23 earnings per share for the current fiscal year.

John Bean Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, December 13th. John Bean Technologies’s dividend payout ratio is currently 7.42%.

John Bean Technologies Profile

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.