John Bean Technologies Co. (NYSE:JBT) Shares Sold by Relative Value Partners Group LLC

Posted by Defense World Staff on Sep 10th, 2023

Relative Value Partners Group LLC decreased its position in shares of John Bean Technologies Co. (NYSE:JBT – Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,678 shares of the industrial products company’s stock after selling 691 shares during the quarter. Relative Value Partners Group LLC’s holdings in John Bean Technologies were worth $948,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in John Bean Technologies by 64.6% during the first quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after buying an additional 723,720 shares during the period. Norges Bank purchased a new position in shares of John Bean Technologies in the 4th quarter valued at about $37,359,000. Royal Bank of Canada raised its holdings in John Bean Technologies by 82.0% in the 1st quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company’s stock worth $44,134,000 after purchasing an additional 167,866 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in John Bean Technologies during the first quarter worth approximately $15,598,000. Finally, ArrowMark Colorado Holdings LLC grew its holdings in John Bean Technologies by 20.8% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 796,136 shares of the industrial products company’s stock valued at $72,711,000 after purchasing an additional 137,242 shares during the period. 98.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com assumed coverage on John Bean Technologies in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Robert W. Baird reiterated an “outperform” rating and issued a $128.00 target price on shares of John Bean Technologies in a research report on Friday, June 30th. TheStreet upgraded shares of John Bean Technologies from a “c+” rating to a “b-” rating in a research report on Monday, July 3rd. 58.com reiterated a “reiterates” rating on shares of John Bean Technologies in a report on Friday, June 30th. Finally, 888 restated a “reiterates” rating on shares of John Bean Technologies in a research report on Friday, June 30th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.00.

Read Our Latest Stock Analysis on John Bean Technologies

John Bean Technologies Stock Down 0.7 %

JBT stock opened at $105.76 on Friday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 7.32 and a beta of 1.40. The firm has a 50-day moving average of $113.78 and a two-hundred day moving average of $110.59. John Bean Technologies Co. has a 12 month low of $81.59 and a 12 month high of $125.88. The company has a current ratio of 1.45, a quick ratio of 1.06 and a debt-to-equity ratio of 1.03.

John Bean Technologies (NYSE:JBT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). The company had revenue of $427.70 million during the quarter, compared to analyst estimates of $466.98 million. John Bean Technologies had a net margin of 6.08% and a return on equity of 17.20%. John Bean Technologies’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 EPS. As a group, analysts forecast that John Bean Technologies Co. will post 3.94 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.38%. John Bean Technologies’s dividend payout ratio is currently 9.98%.

John Bean Technologies Profile

(Free Report)

John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries in North America, Europe, Middle East, Africa, Asia Pacific, and Latin America. The company operates through two segments: FoodTech and AeroTech. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, foaming, portioning, coating, cooking, frying, freezing, weighing, and inspection.