Connor Clark & Lunn Investment Management Ltd. Boosts Stake in John Bean Technologies Co. (NYSE:JBT)

Connor Clark & Lunn Investment Management Ltd. increased its position in John Bean Technologies Co. (NYSE:JBT) by 68.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,202 shares of the industrial products company’s stock after purchasing an additional 5,749 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in John Bean Technologies were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. CWM LLC raised its holdings in John Bean Technologies by 113.2% in the second quarter. CWM LLC now owns 324 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 172 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of John Bean Technologies in the 3rd quarter worth about $39,000. Lazard Asset Management LLC purchased a new position in John Bean Technologies during the 1st quarter valued at about $61,000. Innealta Capital LLC bought a new stake in John Bean Technologies during the second quarter worth about $73,000. Finally, Kimelman & Baird LLC purchased a new stake in John Bean Technologies in the second quarter worth about $85,000. 98.92% of the stock is currently owned by institutional investors.

John Bean Technologies Price Performance

JBT stock opened at $124.21 on Wednesday. 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 50 day moving average price of $106.38 and a 200-day moving average price of $97.93. John Bean Technologies Co. has a 52-week low of $82.64 and a 52-week high of $125.59. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.68 and a beta of 1.22.

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

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.