John Bean Technologies Co. (NYSE:JBT) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of John Bean Technologies Co. (NYSE:JBT) by 31.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,751 shares of the industrial products company’s stock after purchasing an additional 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in John Bean Technologies were worth $671,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of JBT. Arizona State Retirement System raised its holdings in John Bean Technologies by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 9,060 shares of the industrial products company’s stock worth $953,000 after buying an additional 123 shares during the period. OLD National Bancorp IN lifted its position in shares of John Bean Technologies by 7.6% in the 3rd quarter. OLD National Bancorp IN now owns 2,249 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 158 shares in the last quarter. Wrapmanager Inc. boosted its stake in John Bean Technologies by 8.0% in the 3rd quarter. Wrapmanager Inc. now owns 3,335 shares of the industrial products company’s stock worth $351,000 after purchasing an additional 247 shares during the period. GPS Wealth Strategies Group LLC grew its position in John Bean Technologies by 35.5% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 980 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 257 shares in the last quarter. Finally, Diversified Trust Co raised its stake in John Bean Technologies by 2.9% during the 4th quarter. Diversified Trust Co now owns 9,675 shares of the industrial products company’s stock valued at $962,000 after purchasing an additional 275 shares during the period. 98.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird reaffirmed an “outperform” rating and issued a $121.00 target price on shares of John Bean Technologies in a research report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

John Bean Technologies Price Performance

NYSE JBT opened at $90.34 on Tuesday. The company has a 50 day simple moving average of $98.27 and a 200-day simple moving average of $100.39. John Bean Technologies Co. has a 52-week low of $88.03 and a 52-week high of $125.88. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 4.80, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.27 and a quick ratio of 1.78.

John Bean Technologies (NYSE:JBT) last released its earnings results on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.04. John Bean Technologies had a net margin of 33.53% and a return on equity of 12.15%. The company had revenue of $444.60 million during the quarter, compared to the consensus estimate of $445.81 million. During the same quarter in the prior year, the firm earned $1.49 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that John Bean Technologies Co. will post 5.1 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.40 dividend on an annualized basis and a yield of 0.44%. John Bean Technologies’s dividend payout ratio (DPR) is currently 2.12%.

About John Bean Technologies

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.