Oak Ridge Investments LLC Decreases Stake in John Bean Technologies Corp (NYSE:JBT)
Oak Ridge Investments LLC trimmed its position in John Bean Technologies Corp (NYSE:JBT) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,278 shares of the industrial products company’s stock after selling 5,814 shares during the period. Oak Ridge Investments LLC owned 0.27% of John Bean Technologies worth $6,259,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Motley Fool Wealth Management LLC boosted its holdings in John Bean Technologies by 87.1% in the 1st quarter. Motley Fool Wealth Management LLC now owns 104,792 shares of the industrial products company’s stock valued at $7,783,000 after purchasing an additional 48,787 shares during the period. Franklin Resources Inc. bought a new position in John Bean Technologies in the 1st quarter valued at $2,031,000. Channing Capital Management LLC purchased a new stake in shares of John Bean Technologies during the 1st quarter valued at $24,175,000. US Bancorp DE raised its position in shares of John Bean Technologies by 28.0% during the 1st quarter. US Bancorp DE now owns 5,596 shares of the industrial products company’s stock valued at $416,000 after buying an additional 1,225 shares in the last quarter. Finally, Vident Investment Advisory LLC raised its position in shares of John Bean Technologies by 8.7% during the 1st quarter. Vident Investment Advisory LLC now owns 118,989 shares of the industrial products company’s stock valued at $8,837,000 after buying an additional 9,522 shares in the last quarter.
Several research firms have recently weighed in on JBT. ValuEngine upgraded shares of John Bean Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Wells Fargo & Co raised their price objective on shares of John Bean Technologies from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Seaport Global Securities upgraded shares of John Bean Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Monday, March 16th. They noted that the move was a valuation call.
John Bean Technologies (NYSE:JBT) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.26. The company had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $431.53 million. John Bean Technologies had a net margin of 6.96% and a return on equity of 30.83%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. Equities analysts anticipate that John Bean Technologies Corp will post 3.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, May 27th. John Bean Technologies’s payout ratio is 8.06%.
John Bean Technologies Company Profile
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to 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, 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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