King Luther Capital Management Corp Has $5.30 Million Holdings in John Bean Technologies Corp (JBT)

King Luther Capital Management Corp lessened its stake in shares of John Bean Technologies Corp (NYSE:JBT) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,395 shares of the industrial products company’s stock after selling 1,330 shares during the quarter. King Luther Capital Management Corp owned about 0.17% of John Bean Technologies worth $5,297,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of John Bean Technologies by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,811,488 shares of the industrial products company’s stock worth $275,526,000 after purchasing an additional 53,907 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of John Bean Technologies by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,705,825 shares of the industrial products company’s stock worth $172,458,000 after purchasing an additional 38,549 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of John Bean Technologies by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,044,366 shares of the industrial products company’s stock worth $104,646,000 after purchasing an additional 3,564 shares in the last quarter. Eagle Asset Management Inc. boosted its position in shares of John Bean Technologies by 17.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 852,476 shares of the industrial products company’s stock worth $86,611,000 after purchasing an additional 123,801 shares in the last quarter. Finally, State Street Corp boosted its position in shares of John Bean Technologies by 7.2% during the 2nd quarter. State Street Corp now owns 776,821 shares of the industrial products company’s stock worth $76,130,000 after purchasing an additional 51,939 shares in the last quarter. 99.26% of the stock is currently owned by institutional investors.

John Bean Technologies Corp (JBT) traded down $1.60 on Friday, hitting $110.80. 135,489 shares of the company were exchanged, compared to its average volume of 158,617. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. John Bean Technologies Corp has a 12 month low of $80.70 and a 12 month high of $120.55. The firm has a market cap of $3,500.00, a price-to-earnings ratio of 40.14, a PEG ratio of 2.50 and a beta of 1.35.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. John Bean Technologies had a net margin of 5.41% and a return on equity of 25.51%. The company had revenue of $420.80 million for the quarter, compared to analyst estimates of $414.17 million. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. sell-side analysts predict that John Bean Technologies Corp will post 3.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were paid a $0.10 dividend. The ex-dividend date was Friday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.36%. John Bean Technologies’s dividend payout ratio (DPR) is 14.49%.

JBT has been the topic of a number of research analyst reports. Bank of America cut shares of John Bean Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, December 8th. Robert W. Baird increased their price objective on shares of John Bean Technologies from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research lowered shares of John Bean Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $104.86.

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About John Bean Technologies

John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.

Institutional Ownership by Quarter for John Bean Technologies (NYSE:JBT)

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