State Board of Administration of Florida Retirement System increased its holdings in John Bean Technologies Co. (NYSE:JBT) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,484 shares of the industrial products company’s stock after acquiring an additional 383 shares during the period. State Board of Administration of Florida Retirement System’s holdings in John Bean Technologies were worth $1,780,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of JBT. JTC Employer Solutions Trusteee Ltd acquired a new stake in shares of John Bean Technologies in the 2nd quarter worth about $34,000. Captrust Financial Advisors raised its holdings in shares of John Bean Technologies by 355.4% in the 1st quarter. Captrust Financial Advisors now owns 296 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 231 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in shares of John Bean Technologies by 82.9% in the 1st quarter. IndexIQ Advisors LLC now owns 311 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 141 shares during the last quarter. Eaton Vance Management acquired a new stake in shares of John Bean Technologies in the 1st quarter worth about $45,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of John Bean Technologies in the 1st quarter worth about $54,000.
Shares of JBT stock opened at $152.24 on Friday. The company has a 50 day moving average of $144.26 and a 200-day moving average of $140.57. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.93. John Bean Technologies Co. has a 12-month low of $80.74 and a 12-month high of $161.05. The firm has a market cap of $4.84 billion, a P/E ratio of 46.56, a PEG ratio of 2.02 and a beta of 1.57.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Monday, August 23rd were paid a dividend of $0.10 per share. The ex-dividend date was Friday, August 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.26%. John Bean Technologies’s payout ratio is currently 10.15%.
In related news, EVP James L. Marvin sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $132.50, for a total value of $331,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Caroline Maury Devine sold 300 shares of the firm’s stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $131.22, for a total transaction of $39,366.00. Following the completion of the transaction, the director now directly owns 50,104 shares of the company’s stock, valued at $6,574,646.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,900 shares of company stock valued at $788,329. 2.00% of the stock is currently owned by company insiders.
Separately, Robert W. Baird increased their price objective on shares of John Bean Technologies from $151.00 to $162.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $143.00.
John Bean Technologies Profile
John Bean Technologies Corp. is a technology solutions provider, which engages in the food, beverage, and air transportation industries. It operates through the JBT FoodTech and JBT AeroTech business segments. The JBT FoodTech segment designs, manufactures, and services technologically food processing systems for the preparation of meat, seafood and poultry products, ready-to-eat meals, shelf stable packaged foods, bakery products, juice and dairy products, and fruit and vegetable products.
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