Teachers Retirement System of The State of Kentucky Reduces Stock Position in John Bean Technologies Co. (NYSE:JBT)

Teachers Retirement System of The State of Kentucky lowered its position in John Bean Technologies Co. (NYSE:JBT) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,126 shares of the industrial products company’s stock after selling 3,881 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.36% of John Bean Technologies worth $11,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. OLD National Bancorp IN boosted its position in John Bean Technologies by 7.6% during the third quarter. OLD National Bancorp IN now owns 2,249 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 158 shares in the last quarter. Wrapmanager Inc. raised its position in John Bean Technologies by 5.4% during the fourth quarter. Wrapmanager Inc. now owns 3,515 shares of the industrial products company’s stock worth $350,000 after acquiring an additional 180 shares during the last quarter. QRG Capital Management Inc. raised its position in John Bean Technologies by 8.0% during the fourth quarter. QRG Capital Management Inc. now owns 2,651 shares of the industrial products company’s stock worth $264,000 after acquiring an additional 197 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of John Bean Technologies by 2.9% in the fourth quarter. Diversified Trust Co now owns 9,675 shares of the industrial products company’s stock valued at $962,000 after purchasing an additional 275 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its position in shares of John Bean Technologies by 2.0% in the third quarter. Motley Fool Asset Management LLC now owns 18,008 shares of the industrial products company’s stock valued at $1,893,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.

John Bean Technologies Price Performance

JBT stock traded down $1.20 during trading on Friday, hitting $97.03. The stock had a trading volume of 597,207 shares, compared to its average volume of 280,851. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 5.18, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. John Bean Technologies Co. has a 1-year low of $88.03 and a 1-year high of $125.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.37. The company’s 50 day moving average price is $93.12 and its two-hundred day moving average price is $98.01.

John Bean Technologies (NYSE:JBT) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $392.30 million for the quarter, compared to analyst estimates of $396.55 million. John Bean Technologies had a net margin of 36.12% and a return on equity of 10.56%. John Bean Technologies’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. On average, sell-side analysts forecast that John Bean Technologies Co. will post 5.15 EPS for the current fiscal year.

John Bean Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.40 annualized dividend and a yield of 0.41%. John Bean Technologies’s payout ratio is currently 2.13%.

Analyst Upgrades and Downgrades

Separately, William Blair reaffirmed a “market perform” rating on shares of John Bean Technologies in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $121.00.

John Bean Technologies 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.