Great West Life Assurance Co. Can increased its holdings in shares of John Bean Technologies Co. (NYSE:JBT – Get Rating) by 21.7% during the third quarter, HoldingsChannel.com reports. The fund owned 38,333 shares of the industrial products company’s stock after buying an additional 6,826 shares during the quarter. Great West Life Assurance Co. Can’s holdings in John Bean Technologies were worth $3,300,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of JBT. Private Capital Group LLC lifted its holdings in John Bean Technologies by 154.1% during the second quarter. Private Capital Group LLC now owns 282 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 171 shares during the period. Wipfli Financial Advisors LLC bought a new stake in John Bean Technologies during the third quarter worth $32,000. Lazard Asset Management LLC bought a new stake in John Bean Technologies during the second quarter worth $49,000. Point72 Hong Kong Ltd bought a new stake in John Bean Technologies during the first quarter worth $59,000. Finally, Captrust Financial Advisors lifted its holdings in John Bean Technologies by 201.2% during the first quarter. Captrust Financial Advisors now owns 1,208 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 807 shares during the period. 98.38% of the stock is currently owned by institutional investors.
Insider Activity at John Bean Technologies
In other John Bean Technologies news, CEO Brian A. Deck bought 1,500 shares of John Bean Technologies stock in a transaction that occurred on Friday, October 28th. The stock was acquired at an average cost of $90.91 per share, for a total transaction of $136,365.00. Following the completion of the transaction, the chief executive officer now directly owns 73,154 shares in the company, valued at $6,650,430.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other John Bean Technologies news, CEO Brian A. Deck bought 1,500 shares of John Bean Technologies stock in a transaction that occurred on Friday, October 28th. The stock was acquired at an average cost of $90.91 per share, for a total transaction of $136,365.00. Following the completion of the transaction, the chief executive officer now directly owns 73,154 shares in the company, valued at $6,650,430.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Caroline Maury Devine sold 300 shares of the business’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $88.25, for a total value of $26,475.00. Following the transaction, the director now owns 46,149 shares of the company’s stock, valued at $4,072,649.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 900 shares of company stock worth $84,909. 1.30% of the stock is owned by company insiders.
John Bean Technologies Stock Performance
John Bean Technologies (NYSE:JBT – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. John Bean Technologies had a return on equity of 17.16% and a net margin of 6.05%. The company had revenue of $555.40 million for the quarter, compared to analyst estimates of $557.57 million. During the same period in the previous year, the company posted $1.02 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. Research analysts predict that John Bean Technologies Co. will post 4.67 EPS for the current year.
John Bean Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 2nd. Investors of record on Monday, December 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.39%. John Bean Technologies’s payout ratio is 10.26%.
Analysts Set New Price Targets
Several analysts have issued reports on the company. BMO Capital Markets lowered their target price on John Bean Technologies from $135.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 2nd. StockNews.com assumed coverage on John Bean Technologies in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Robert W. Baird lowered their target price on John Bean Technologies from $117.00 to $110.00 in a research note on Thursday, October 27th. William Blair lowered John Bean Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 27th. Finally, JPMorgan Chase & Co. lowered their target price on John Bean Technologies to $100.00 in a research note on Monday, November 28th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.50.
John Bean Technologies Profile
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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