CIBC Private Wealth Group LLC Has $1.05 Million Position in John Bean Technologies Corp (JBT)
CIBC Private Wealth Group LLC increased its stake in shares of John Bean Technologies Corp (NYSE:JBT) by 53.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,785 shares of the industrial products company’s stock after purchasing an additional 4,100 shares during the period. CIBC Private Wealth Group LLC’s holdings in John Bean Technologies were worth $1,048,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of John Bean Technologies during the 4th quarter worth about $201,000. Diversified Trust Co acquired a new position in shares of John Bean Technologies during the 2nd quarter worth about $289,000. First Midwest Bank Trust Division boosted its position in shares of John Bean Technologies by 11.9% during the 2nd quarter. First Midwest Bank Trust Division now owns 4,662 shares of the industrial products company’s stock worth $414,000 after acquiring an additional 494 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of John Bean Technologies by 14.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,851 shares of the industrial products company’s stock worth $431,000 after acquiring an additional 600 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of John Bean Technologies by 13.0% during the 2nd quarter. Amalgamated Bank now owns 5,117 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 588 shares in the last quarter.
In other news, VP Brian A. Deck bought 1,000 shares of John Bean Technologies stock in a transaction dated Thursday, May 31st. The stock was acquired at an average cost of $87.92 per share, with a total value of $87,920.00. Following the acquisition, the vice president now owns 49,973 shares of the company’s stock, valued at $4,393,626.16. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 2.24% of the stock is currently owned by insiders.
John Bean Technologies (NYSE:JBT) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.19. John Bean Technologies had a return on equity of 26.58% and a net margin of 4.43%. The business had revenue of $491.30 million during the quarter, compared to the consensus estimate of $474.59 million. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis. research analysts forecast that John Bean Technologies Corp will post 4.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Monday, August 20th will be issued a $0.10 dividend. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, August 17th. John Bean Technologies’s payout ratio is presently 12.90%.
Several research analysts have recently issued reports on the company. Robert W. Baird cut John Bean Technologies from an “outperform” rating to a “neutral” rating and set a $119.00 price objective for the company. in a research report on Monday, April 23rd. ValuEngine raised John Bean Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. TheStreet raised John Bean Technologies from a “c+” rating to an “a-” rating in a research report on Thursday, July 26th. Zacks Investment Research raised John Bean Technologies from a “sell” rating to a “hold” rating and set a $123.00 price objective for the company in a research report on Saturday, July 28th. Finally, BMO Capital Markets upped their price objective on John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. John Bean Technologies currently has a consensus rating of “Hold” and an average target price of $109.17.
About John Bean Technologies
John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
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