Hartford Investment Management Co. Has $857,000 Stake in Jabil Inc. (NYSE:JBL)

Hartford Investment Management Co. lowered its holdings in Jabil Inc. (NYSE:JBL) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,151 shares of the technology company’s stock after selling 574 shares during the quarter. Hartford Investment Management Co.’s holdings in Jabil were worth $857,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC bought a new position in Jabil in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the 2nd quarter valued at $28,000. Innealta Capital LLC bought a new stake in shares of Jabil during the second quarter worth $31,000. Family Firm Inc. acquired a new position in shares of Jabil during the second quarter valued at $37,000. Finally, Matrix Trust Co boosted its holdings in Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after acquiring an additional 214 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Down 0.2 %

Jabil stock opened at $124.72 on Friday. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.46 and a beta of 1.25. The company’s 50 day simple moving average is $114.27 and its 200 day simple moving average is $114.94.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same period last year, the firm posted $2.34 earnings per share. The business’s quarterly revenue was down 17.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

Analysts Set New Price Targets

JBL has been the subject of several recent research reports. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Bank of America raised their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus upped their target price on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Transactions at Jabil

In related news, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the transaction, the executive vice president now directly owns 18,568 shares in the company, valued at approximately $2,336,411.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jabil news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now owns 18,568 shares of the company’s stock, valued at approximately $2,336,411.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the sale, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at $12,908,981.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,651 shares of company stock valued at $929,005 over the last 90 days. 2.62% of the stock is owned by company insiders.

Jabil Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).