Russell Investments Group Ltd. Lowers Holdings in John Bean Technologies Co. (NYSE:JBT)

Russell Investments Group Ltd. reduced its stake in John Bean Technologies Co. (NYSE:JBT) by 76.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,022 shares of the industrial products company’s stock after selling 6,472 shares during the period. Russell Investments Group Ltd.’s holdings in John Bean Technologies were worth $288,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Captrust Financial Advisors raised its position 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 purchasing an additional 231 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in John Bean Technologies by 82.9% in the first quarter. IndexIQ Advisors LLC now owns 311 shares of the industrial products company’s stock worth $41,000 after buying an additional 141 shares during the last quarter. Eaton Vance Management bought a new position in shares of John Bean Technologies in the first quarter worth approximately $45,000. Maverick Capital Ltd. purchased a new stake in shares of John Bean Technologies during the first quarter valued at approximately $54,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of John Bean Technologies by 313.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,630 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 1,236 shares in the last quarter.

Shares of John Bean Technologies stock opened at $152.24 on Friday. John Bean Technologies Co. has a twelve month low of $80.74 and a twelve month high of $161.05. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $144.26 and its 200 day moving average is $140.57. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 46.56, a price-to-earnings-growth ratio of 2.02 and a beta of 1.57.

John Bean Technologies (NYSE:JBT) last announced its earnings results on Monday, July 26th. The industrial products company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.19. John Bean Technologies had a net margin of 5.98% and a return on equity of 19.38%. The business had revenue of $475.50 million during the quarter, compared to analyst estimates of $453.51 million. During the same period in the previous year, the business earned $1.09 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts expect that John Bean Technologies Co. will post 4.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 23rd were given a $0.10 dividend. The ex-dividend date was Friday, August 20th. This represents a $0.40 annualized dividend and a yield of 0.26%. John Bean Technologies’s payout ratio is 10.15%.

In other news, EVP James L. Marvin sold 2,500 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $132.50, for a total value of $331,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Caroline Maury Devine sold 300 shares of the company’s stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $131.22, for a total value of $39,366.00. Following the completion of the sale, the director now owns 50,104 shares of the company’s stock, valued at approximately $6,574,646.88. The disclosure for this sale can be found here. Insiders have sold a total of 5,900 shares of company stock valued at $788,329 in the last ninety days. Insiders own 2.00% of the company’s stock.

Separately, Robert W. Baird increased their target price on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $143.00.

About John Bean Technologies

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

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