Cerity Partners LLC Purchases New Holdings in John Bean Technologies Co. (NYSE:JBT)

Cerity Partners LLC purchased a new stake in John Bean Technologies Co. (NYSE:JBT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 399 shares of the industrial products company’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors have also modified their holdings of JBT. Wellington Management Group LLP increased its holdings in shares of John Bean Technologies by 64.6% in 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 purchasing an additional 723,720 shares in the last quarter. Norges Bank acquired a new stake in shares of John Bean Technologies in the fourth quarter valued at approximately $37,359,000. Royal Bank of Canada increased its holdings in shares of John Bean Technologies by 82.0% in the first quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company’s stock valued at $44,134,000 after purchasing an additional 167,866 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of John Bean Technologies in the first quarter valued at approximately $15,598,000. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.

John Bean Technologies Trading Up 0.9 %

Shares of NYSE JBT opened at $110.89 on Friday. The company’s fifty day moving average is $115.01 and its 200-day moving average is $110.71. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 7.46 and a beta of 1.40. John Bean Technologies Co. has a twelve month low of $81.59 and a twelve month high of $125.88. The company has a quick ratio of 1.06, a current ratio of 1.45 and a debt-to-equity ratio of 1.03.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The firm had revenue of $427.70 million for the quarter, compared to the consensus estimate of $466.98 million. John Bean Technologies had a return on equity of 17.20% and a net margin of 6.08%. The company’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 earned $1.13 earnings per share. Equities research analysts predict that John Bean Technologies Co. will post 4.02 EPS for the current year.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.36%. John Bean Technologies’s dividend payout ratio is 9.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JBT. 58.com reaffirmed a “reiterates” rating on shares of John Bean Technologies in a research note on Friday, June 30th. Robert W. Baird reaffirmed an “outperform” rating and issued a $128.00 price objective on shares of John Bean Technologies in a research note on Friday, June 30th. TheStreet raised shares of John Bean Technologies from a “c+” rating to a “b-” rating in a research note on Monday, July 3rd. 888 reaffirmed a “reiterates” rating on shares of John Bean Technologies in a research note on Friday, June 30th. Finally, StockNews.com began coverage on shares of John Bean Technologies in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, John Bean Technologies presently has an average rating of “Moderate Buy” and an average price target of $116.00.

About John Bean Technologies

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.