Geode Capital Management LLC Acquires 3,440 Shares of John Bean Technologies Co. (NYSE:JBT)

Geode Capital Management LLC grew its holdings in John Bean Technologies Co. (NYSE:JBT) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 729,853 shares of the industrial products company’s stock after acquiring an additional 3,440 shares during the period. Geode Capital Management LLC owned 2.29% of John Bean Technologies worth $71,912,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of JBT. Pathstone Holdings LLC raised its holdings in John Bean Technologies by 21.5% in the 3rd quarter. Pathstone Holdings LLC now owns 24,445 shares of the industrial products company’s stock worth $2,408,000 after purchasing an additional 4,325 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of John Bean Technologies by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 393,382 shares of the industrial products company’s stock worth $38,752,000 after buying an additional 11,474 shares during the period. Susquehanna International Group Ltd. purchased a new position in shares of John Bean Technologies during the 2nd quarter valued at about $945,000. D. E. Shaw & Co. Inc. grew its stake in shares of John Bean Technologies by 37.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 236,865 shares of the industrial products company’s stock valued at $22,495,000 after acquiring an additional 64,280 shares during the period. Finally, Intech Investment Management LLC increased its holdings in John Bean Technologies by 139.3% in the 3rd quarter. Intech Investment Management LLC now owns 12,712 shares of the industrial products company’s stock worth $1,252,000 after acquiring an additional 7,399 shares in the last quarter. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JBT shares. Jefferies Financial Group started coverage on shares of John Bean Technologies in a report on Thursday, December 12th. They set a “hold” rating and a $130.00 price target on the stock. CJS Securities began coverage on shares of John Bean Technologies in a research note on Thursday, December 12th. They set an “outperform” rating and a $150.00 target price on the stock.

John Bean Technologies Stock Up 1.0 %

Shares of JBT opened at $124.78 on Friday. John Bean Technologies Co. has a 12-month low of $82.64 and a 12-month high of $128.23. The company has a current ratio of 2.55, a quick ratio of 2.00 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.97 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. The business’s 50 day moving average is $117.11 and its 200 day moving average is $101.85.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. The firm had revenue of $453.80 million for the quarter, compared to analysts’ expectations of $442.20 million. During the same quarter last year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts expect that John Bean Technologies Co. will post 5.23 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. John Bean Technologies’s dividend payout ratio (DPR) is 7.42%.

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.