HighTower Advisors LLC Lowers Stake in John Bean Technologies Co. (NYSE:JBT)

HighTower Advisors LLC lessened its position in shares of John Bean Technologies Co. (NYSE:JBT) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,833 shares of the industrial products company’s stock after selling 174 shares during the period. HighTower Advisors LLC’s holdings in John Bean Technologies were worth $1,263,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its position in John Bean Technologies by 113.2% during the second quarter. CWM LLC now owns 324 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 172 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of John Bean Technologies in the third quarter worth about $39,000. Innealta Capital LLC purchased a new stake in shares of John Bean Technologies in the second quarter worth about $73,000. Kimelman & Baird LLC purchased a new stake in shares of John Bean Technologies in the second quarter worth about $85,000. Finally, KBC Group NV boosted its position in shares of John Bean Technologies by 31.5% in the third quarter. KBC Group NV now owns 1,014 shares of the industrial products company’s stock worth $100,000 after buying an additional 243 shares during the period. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. CJS Securities assumed coverage on John Bean Technologies in a research report on Thursday, December 12th. They issued an “outperform” rating and a $150.00 target price for the company. Jefferies Financial Group assumed coverage on John Bean Technologies in a research report on Thursday, December 12th. They issued a “hold” rating and a $130.00 target price for the company.

John Bean Technologies Trading Down 0.5 %

NYSE:JBT opened at $122.22 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.00 and a current ratio of 2.55. John Bean Technologies Co. has a one year low of $82.64 and a one year high of $128.23. The business’s 50-day simple moving average is $114.99 and its 200 day simple moving average is $101.15. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. The business had revenue of $453.80 million for the quarter, compared to analysts’ expectations of $442.20 million. During the same quarter in the previous year, the firm posted $1.11 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that John Bean Technologies Co. will post 5.23 earnings per share for the current fiscal year.

John Bean Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, December 13th. John Bean Technologies’s payout ratio is currently 7.42%.

John Bean Technologies Company Profile

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.