Confluence Investment Management LLC Raises Holdings in John Bean Technologies Co. (NYSE:JBT)


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Confluence Investment Management LLC increased its stake in shares of John Bean Technologies Co. (NYSE:JBT) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,737 shares of the industrial products company’s stock after acquiring an additional 745 shares during the period. Confluence Investment Management LLC owned about 0.18% of John Bean Technologies worth $7,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LPL Financial LLC acquired a new position in John Bean Technologies in the 3rd quarter worth about $216,000. Great West Life Assurance Co. Can boosted its holdings in shares of John Bean Technologies by 691.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 307,611 shares of the industrial products company’s stock worth $4,761,000 after purchasing an additional 268,746 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of John Bean Technologies by 8.4% in the third quarter. UBS Asset Management Americas Inc. now owns 40,094 shares of the industrial products company’s stock valued at $3,684,000 after purchasing an additional 3,109 shares during the last quarter. Advisors Asset Management Inc. lifted its position in John Bean Technologies by 54.8% during the third quarter. Advisors Asset Management Inc. now owns 7,444 shares of the industrial products company’s stock worth $684,000 after buying an additional 2,634 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its stake in John Bean Technologies by 129.5% during the third quarter. ExodusPoint Capital Management LP now owns 10,352 shares of the industrial products company’s stock worth $951,000 after buying an additional 5,842 shares during the last quarter.

Several research analysts have recently commented on the company. BMO Capital Markets lifted their price target on John Bean Technologies from $110.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, December 14th. Robert W. Baird lifted their target price on shares of John Bean Technologies from $95.00 to $148.00 and gave the stock a “neutral” rating in a research note on Monday, March 1st. Wells Fargo & Company increased their price target on shares of John Bean Technologies from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, March 2nd. Zacks Investment Research raised shares of John Bean Technologies from a “strong sell” rating to a “hold” rating and set a $154.00 price target on the stock in a research report on Thursday, February 25th. Finally, William Blair reiterated an “outperform” rating on shares of John Bean Technologies in a research report on Tuesday, February 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $150.50.

In other John Bean Technologies news, Director Caroline Maury Devine sold 236 shares of John Bean Technologies stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $139.36, for a total value of $32,888.96. Following the transaction, the director now directly owns 49,879 shares in the company, valued at $6,951,137.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Marvin sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $127.26, for a total value of $318,150.00. Following the sale, the executive vice president now directly owns 17,822 shares of the company’s stock, valued at $2,268,027.72. The disclosure for this sale can be found here. Insiders sold 6,736 shares of company stock valued at $952,039 in the last quarter. 2.20% of the stock is owned by insiders.

NYSE JBT traded down $0.66 during trading hours on Thursday, reaching $133.31. The company had a trading volume of 6 shares, compared to its average volume of 183,056. The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.23 billion, a P/E ratio of 35.63 and a beta of 1.58. The stock has a 50-day moving average of $138.40 and a 200 day moving average of $116.36. John Bean Technologies Co. has a 1-year low of $56.17 and a 1-year high of $151.64.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Sunday, February 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. John Bean Technologies had a net margin of 6.59% and a return on equity of 24.17%. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $426.31 million. During the same period in the previous year, the firm earned $1.50 EPS. The business’s revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts predict that John Bean Technologies Co. will post 3.83 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 22nd. Investors of record on Monday, March 8th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. John Bean Technologies’s payout ratio is 8.06%.

John Bean Technologies 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 offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, and X-ray food inspection.

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Institutional Ownership by Quarter for John Bean Technologies (NYSE:JBT)

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