Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of John Bean Technologies Co. (NYSE:JBT – Get Rating) by 10.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 420,356 shares of the industrial products company's stock after selling 50,196 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.32% of John Bean Technologies worth $49,800,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of John Bean Technologies by 64.6% during the 1st quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company's stock worth $218,546,000 after acquiring an additional 723,720 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of John Bean Technologies by 82.0% during the 1st quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company's stock worth $44,134,000 after acquiring an additional 167,866 shares in the last quarter. Royce & Associates LP boosted its stake in shares of John Bean Technologies by 10.7% during the 1st quarter. Royce & Associates LP now owns 675,926 shares of the industrial products company's stock worth $80,077,000 after acquiring an additional 65,280 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of John Bean Technologies during the 1st quarter worth approximately $7,594,000. Finally, Loomis Sayles & Co. L P boosted its stake in shares of John Bean Technologies by 22.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 270,720 shares of the industrial products company's stock worth $41,572,000 after acquiring an additional 49,888 shares in the last quarter.
Get John Bean Technologies alerts:Insider Activity at John Bean Technologies
In other John Bean Technologies news, Director Caroline Maury Devine sold 300 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $118.96, for a total transaction of $35,688.00. Following the transaction, the director now owns 47,349 shares of the company's stock, valued at approximately $5,632,637.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 900 shares of company stock valued at $100,599. 1.30% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird decreased their price target on John Bean Technologies from $140.00 to $128.00 in a research note on Thursday, July 28th.John Bean Technologies Price Performance
JBT stock opened at $97.15 on Thursday. John Bean Technologies Co. has a 1 year low of $96.35 and a 1 year high of $177.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.84 and a current ratio of 1.33. The stock's 50 day moving average price is $110.05 and its 200 day moving average price is $112.70. The firm has a market cap of $3.10 billion, a P/E ratio of 25.98, a PEG ratio of 1.34 and a beta of 1.40.
John Bean Technologies (NYSE:JBT – Get Rating) last posted its earnings results on Wednesday, July 27th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by ($0.05). John Bean Technologies had a net margin of 6.04% and a return on equity of 16.69%. The company had revenue of $542.30 million during the quarter, compared to analysts' expectations of $552.27 million. During the same period in the previous year, the company posted $1.19 EPS. John Bean Technologies's quarterly revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts expect that John Bean Technologies Co. will post 4.94 earnings per share for the current fiscal year.
John Bean Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 22nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, August 19th. John Bean Technologies's payout ratio is currently 10.70%.
John Bean Technologies Profile
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John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.
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