Wilmington Savings Fund Society FSB Invests $39,000 in John Bean Technologies Co. (NYSE:JBT)

Wilmington Savings Fund Society FSB purchased a new position in shares of John Bean Technologies Co. (NYSE:JBT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 400 shares of the industrial products company’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolverine Asset Management LLC acquired a new stake in John Bean Technologies during the 3rd quarter worth $39,000. Innealta Capital LLC acquired a new stake in shares of John Bean Technologies during the second quarter worth $73,000. Kimelman & Baird LLC bought a new stake in John Bean Technologies in the second quarter valued at about $85,000. 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 valued at $100,000 after buying an additional 243 shares during the period. Finally, Point72 DIFC Ltd bought a new position in John Bean Technologies during the third quarter worth about $186,000. 98.92% of the stock is owned by institutional investors.

John Bean Technologies Price Performance

Shares of JBT opened at $124.78 on Monday. The stock has a 50 day simple moving average of $117.11 and a 200 day simple moving average of $101.95. John Bean Technologies Co. has a 52-week low of $82.64 and a 52-week high of $128.23. 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 firm has a market capitalization of $3.97 billion, a PE ratio of 23.15, a P/E/G ratio of 1.74 and a beta of 1.24.

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

John Bean Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JBT shares. CJS Securities initiated coverage on John Bean Technologies in a research note on Thursday, December 12th. They issued an “outperform” rating and a $150.00 price target for the company. Jefferies Financial Group assumed coverage on shares of John Bean Technologies in a research note on Thursday, December 12th. They issued a “hold” rating and a $130.00 target price for the company.

About John Bean Technologies

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.