Dimensional Fund Advisors LP lifted its stake in shares of John Bean Technologies Corp (NYSE:JBT) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 748,323 shares of the industrial products company’s stock after acquiring an additional 23,983 shares during the period. Dimensional Fund Advisors LP owned approximately 2.37% of John Bean Technologies worth $53,734,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in John Bean Technologies by 8.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 535,671 shares of the industrial products company’s stock valued at $63,906,000 after buying an additional 41,664 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in John Bean Technologies by 12.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,545 shares of the industrial products company’s stock valued at $900,000 after buying an additional 832 shares in the last quarter. Janus Henderson Group PLC purchased a new position in John Bean Technologies in the 3rd quarter valued at approximately $259,000. Bank of New York Mellon Corp grew its stake in John Bean Technologies by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 358,801 shares of the industrial products company’s stock valued at $42,805,000 after buying an additional 11,555 shares in the last quarter. Finally, BlackRock Inc. grew its stake in John Bean Technologies by 3.2% in the 3rd quarter. BlackRock Inc. now owns 4,505,576 shares of the industrial products company’s stock valued at $537,514,000 after buying an additional 139,054 shares in the last quarter.
A number of research analysts have recently commented on JBT shares. Zacks Investment Research lowered shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. TheStreet raised shares of John Bean Technologies from a “c+” rating to a “b” rating in a report on Tuesday, February 26th. ValuEngine raised shares of John Bean Technologies from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Wells Fargo & Co lifted their price objective on shares of John Bean Technologies from $90.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Finally, 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. John Bean Technologies currently has an average rating of “Hold” and an average price target of $95.57.
Shares of NYSE:JBT traded up $0.89 during midday trading on Friday, hitting $103.72. 123,725 shares of the stock traded hands, compared to its average volume of 144,874. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. 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 Corp has a one year low of $66.28 and a one year high of $123.90.
John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Monday, February 25th. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $537.30 million for the quarter, compared to analysts’ expectations of $536.33 million. During the same quarter in the previous year, the company earned $1.10 earnings per share. John Bean Technologies’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that John Bean Technologies Corp will post 4.32 EPS for the current fiscal year.
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John Bean Technologies Company 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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