Point72 Asset Management L.P. Decreases Holdings in John Bean Technologies Co. (NYSE:JBT)

Point72 Asset Management L.P. decreased its holdings in John Bean Technologies Co. (NYSE:JBT) by 87.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,353 shares of the industrial products company’s stock after selling 22,939 shares during the period. Point72 Asset Management L.P.’s holdings in John Bean Technologies were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in JBT. CWM LLC increased its position in John Bean Technologies by 113.2% during the second quarter. CWM LLC now owns 324 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 172 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of John Bean Technologies during the 3rd quarter worth about $39,000. Innealta Capital LLC bought a new position in John Bean Technologies during the 2nd quarter valued at about $73,000. Kimelman & Baird LLC purchased a new stake in John Bean Technologies in the 2nd quarter worth about $85,000. Finally, KBC Group NV lifted its stake in John Bean Technologies by 31.5% in the third quarter. KBC Group NV now owns 1,014 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 98.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JBT. CJS Securities started coverage on John Bean Technologies in a report on Thursday. They issued an “outperform” rating and a $150.00 price target on the stock. Jefferies Financial Group started coverage on John Bean Technologies in a research note on Thursday. They issued a “hold” rating and a $130.00 target price on the stock.

John Bean Technologies Stock Performance

John Bean Technologies stock opened at $127.12 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.00 and a current ratio of 2.55. The company has a market capitalization of $4.05 billion, a PE ratio of 23.58, a P/E/G ratio of 1.71 and a beta of 1.24. The company has a 50 day moving average price of $114.08 and a 200-day moving average price of $100.65. John Bean Technologies Co. has a fifty-two week low of $82.64 and a fifty-two week high of $128.23.

John Bean Technologies (NYSE:JBT) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $453.80 million during the quarter, compared to analyst estimates of $442.20 million. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. John Bean Technologies’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. As a group, equities analysts forecast that John Bean Technologies Co. will post 5.23 earnings per share for the current year.

John Bean Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, December 13th. John Bean Technologies’s dividend payout ratio (DPR) is 7.42%.

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.