John Bean Technologies Co. (NYSE:JBT) Stake Cut by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on Feb 24th, 2023

Oppenheimer Asset Management Inc. decreased its stake in shares of John Bean Technologies Co. (NYSE:JBT – Get Rating) by 2.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,436 shares of the industrial products company’s stock after selling 162 shares during the period. Oppenheimer Asset Management Inc.’s holdings in John Bean Technologies were worth $467,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. increased its holdings in shares of John Bean Technologies by 3.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 6,113 shares of the industrial products company’s stock valued at $526,000 after acquiring an additional 178 shares during the last quarter. Brown Advisory Inc. grew its holdings in John Bean Technologies by 4.9% in the 3rd quarter. Brown Advisory Inc. now owns 694,884 shares of the industrial products company’s stock valued at $59,760,000 after buying an additional 32,723 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in John Bean Technologies by 6.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 9,130 shares of the industrial products company’s stock valued at $785,000 after buying an additional 535 shares during the last quarter. Relative Value Partners Group LLC acquired a new stake in John Bean Technologies in the 3rd quarter valued at approximately $571,000. Finally, UBS Group AG grew its holdings in John Bean Technologies by 3.0% in the 3rd quarter. UBS Group AG now owns 15,324 shares of the industrial products company’s stock valued at $1,317,000 after buying an additional 448 shares during the last quarter. Institutional investors and hedge funds own 98.38% of the company’s stock.

John Bean Technologies Stock Down 0.2 %

NYSE JBT opened at $109.53 on Friday. The stock has a fifty day moving average of $101.41 and a 200-day moving average of $98.26. The stock has a market capitalization of $3.49 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.13 and a beta of 1.39. John Bean Technologies Co. has a 52 week low of $81.59 and a 52 week high of $126.75. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.85 and a current ratio of 1.40.

John Bean Technologies (NYSE:JBT – Get Rating) last released its earnings results on Tuesday, February 21st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $599.10 million during the quarter, compared to analysts’ expectations of $599.82 million. John Bean Technologies had a return on equity of 18.85% and a net margin of 6.03%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. On average, equities research analysts forecast that John Bean Technologies Co. will post 5.4 EPS for the current year.

John Bean Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 2nd. Stockholders of record on Monday, December 19th were paid a $0.10 dividend. The ex-dividend date was Friday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. John Bean Technologies’s dividend payout ratio (DPR) is currently 9.80%.

Insider Buying and Selling

In related news, Director Caroline Maury Devine sold 300 shares of John Bean Technologies stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $101.57, for a total transaction of $30,471.00. Following the completion of the sale, the director now directly owns 45,849 shares of the company’s stock, valued at $4,656,882.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 900 shares of company stock valued at $89,841 over the last three months. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on JBT. JPMorgan Chase & Co. reduced their price objective on John Bean Technologies to $100.00 in a research report on Monday, November 28th. BMO Capital Markets cut their target price on John Bean Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. TheStreet upgraded John Bean Technologies from a “c+” rating to a “b” rating in a research report on Tuesday. Robert W. Baird cut their target price on John Bean Technologies from $117.00 to $110.00 in a research report on Thursday, October 27th. Finally, William Blair downgraded John Bean Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

About John Bean Technologies

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John Bean Technologies Corp. is a technology solutions provider, which engages in the food, beverage, and air transportation industries. It operates through the JBT FoodTech and JBT AeroTech business segments. The JBT FoodTech segment designs, manufactures, and services technologically food processing systems for the preparation of meat, seafood and poultry products, ready-to-eat meals, shelf stable packaged foods, bakery products, juice and dairy products, and fruit and vegetable products.