Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of John Bean Technologies Co. (NYSE:JBT – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,339 shares of the industrial products company’s stock, valued at approximately $459,000.
Several other hedge funds have also added to or reduced their stakes in JBT. Wellington Management Group LLP increased its stake in shares of John Bean Technologies by 64.6% during the 1st quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock worth $218,546,000 after purchasing an additional 723,720 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of John Bean Technologies by 41.9% during the 2nd quarter. Brown Advisory Inc. now owns 637,948 shares of the industrial products company’s stock valued at $70,442,000 after buying an additional 188,308 shares during the last quarter. Royal Bank of Canada grew its stake in shares of John Bean Technologies by 82.0% during the 1st quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company’s stock worth $44,134,000 after acquiring an additional 167,866 shares during the period. Turtle Creek Asset Management Inc. increased its holdings in John Bean Technologies by 343.3% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 185,106 shares of the industrial products company’s stock worth $15,919,000 after acquiring an additional 143,346 shares during the last quarter. Finally, abrdn plc purchased a new stake in John Bean Technologies during the second quarter valued at about $13,203,000. Institutional investors own 98.38% of the company’s stock.
Insider Buying and Selling at John Bean Technologies
In related news, Director Caroline Maury Devine sold 300 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $101.57, for a total transaction of $30,471.00. Following the transaction, the director now directly owns 45,849 shares of the company’s stock, valued at approximately $4,656,882.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 900 shares of company stock worth $89,841 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Wall Street Analyst Weigh In
John Bean Technologies Price Performance
John Bean Technologies stock opened at $110.20 on Thursday. The business has a 50-day simple moving average of $103.10 and a 200 day simple moving average of $97.97. John Bean Technologies Co. has a 52 week low of $81.59 and a 52 week high of $126.75. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.31 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 1.13.
John Bean Technologies (NYSE:JBT – Get Rating) last announced its earnings results on Tuesday, February 21st. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. John Bean Technologies had a net margin of 6.03% and a return on equity of 18.85%. The business had revenue of $599.10 million for the quarter, compared to the consensus estimate of $599.82 million. During the same period last year, the firm posted $0.92 earnings per share. John Bean Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts forecast that John Bean Technologies Co. will post 5.34 earnings per share for the current fiscal year.
John Bean Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Monday, March 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. John Bean Technologies’s dividend payout ratio is presently 9.80%.
About John Bean Technologies
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.
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