Confluence Investment Management LLC Trims Position in John Bean Technologies Corp (JBT)

Confluence Investment Management LLC decreased its position in shares of John Bean Technologies Corp (NYSE:JBT) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,977 shares of the industrial products company’s stock after selling 563 shares during the period. Confluence Investment Management LLC owned 0.09% of John Bean Technologies worth $2,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its position in John Bean Technologies by 67.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 466 shares during the last quarter. Advisor Group Inc. lifted its position in shares of John Bean Technologies by 27.4% in the second quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock worth $129,000 after buying an additional 297 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of John Bean Technologies by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,330 shares of the industrial products company’s stock worth $130,000 after buying an additional 114 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of John Bean Technologies by 1.2% in the second quarter. D.A. Davidson & CO. now owns 1,574 shares of the industrial products company’s stock worth $154,000 after buying an additional 19 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in shares of John Bean Technologies by 71.6% in the second quarter. Riverhead Capital Management LLC now owns 2,231 shares of the industrial products company’s stock worth $219,000 after buying an additional 931 shares during the last quarter. 99.26% of the stock is owned by hedge funds and other institutional investors.

Shares of John Bean Technologies Corp (JBT) opened at $110.20 on Wednesday. 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 capitalization of $3,480.00, a PE ratio of 39.93, a price-to-earnings-growth ratio of 2.04 and a beta of 1.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.28 and a quick ratio of 0.82.

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

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

A number of analysts have weighed in on JBT shares. Zacks Investment Research raised John Bean Technologies from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a research report on Thursday, October 26th. Bank of America cut John Bean Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, December 8th. Finally, Robert W. Baird boosted their price target on John Bean Technologies from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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