Handelsbanken Fonder AB Increases Position in John Bean Technologies Co. (NYSE:JBT)

Handelsbanken Fonder AB increased its stake in shares of John Bean Technologies Co. (NYSE:JBT) by 31.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,751 shares of the industrial products company’s stock after buying an additional 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in John Bean Technologies were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in shares of John Bean Technologies by 109.9% during the 3rd quarter. Victory Capital Management Inc. now owns 826,544 shares of the industrial products company’s stock worth $86,903,000 after acquiring an additional 432,822 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in John Bean Technologies during the fourth quarter worth $12,594,000. 2Xideas AG acquired a new stake in John Bean Technologies in the third quarter valued at $10,714,000. Impax Asset Management Group plc purchased a new position in shares of John Bean Technologies in the third quarter valued at $6,308,000. Finally, Nordea Investment Management AB boosted its position in shares of John Bean Technologies by 54.0% in the 3rd quarter. Nordea Investment Management AB now owns 98,365 shares of the industrial products company’s stock worth $10,323,000 after buying an additional 34,498 shares in the last quarter. 98.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Robert W. Baird restated an “outperform” rating and set a $121.00 target price on shares of John Bean Technologies in a research report on Monday, January 22nd. One analyst has rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, John Bean Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

John Bean Technologies Price Performance

JBT stock opened at $90.34 on Tuesday. The stock’s fifty day simple moving average is $98.27 and its 200-day simple moving average is $100.39. John Bean Technologies Co. has a 52-week low of $88.03 and a 52-week high of $125.88. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 4.80, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The company has a quick ratio of 1.78, a current ratio of 2.27 and a debt-to-equity ratio of 0.43.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.36 by $0.04. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $445.81 million. During the same quarter in the previous year, the business earned $1.49 EPS. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts expect that John Bean Technologies Co. will post 5.1 EPS for the current year.

John Bean Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. John Bean Technologies’s dividend payout ratio (DPR) is presently 2.12%.

John Bean Technologies Company Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.