Confluence Investment Management LLC Trims Stock Holdings in John Bean Technologies Co. (NYSE:JBT)

Confluence Investment Management LLC reduced its position in John Bean Technologies Co. (NYSE:JBT) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,676 shares of the industrial products company’s stock after selling 4,139 shares during the quarter. Confluence Investment Management LLC owned about 0.33% of John Bean Technologies worth $13,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JBT. Natixis Advisors LLC raised its position in John Bean Technologies by 69.4% during the 2nd quarter. Natixis Advisors LLC now owns 209,662 shares of the industrial products company’s stock worth $19,912,000 after buying an additional 85,910 shares during the last quarter. Rhumbline Advisers raised its stake in John Bean Technologies by 5.5% during the second quarter. Rhumbline Advisers now owns 101,574 shares of the industrial products company’s stock worth $9,646,000 after purchasing an additional 5,333 shares during the period. Arizona State Retirement System boosted its holdings in John Bean Technologies by 1.7% in the second quarter. Arizona State Retirement System now owns 8,900 shares of the industrial products company’s stock valued at $845,000 after acquiring an additional 150 shares during the last quarter. Savant Capital LLC purchased a new stake in shares of John Bean Technologies during the 2nd quarter worth about $417,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of John Bean Technologies in the second quarter worth $654,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JBT has been the subject of several analyst reports. Jefferies Financial Group began 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. CJS Securities initiated coverage on shares of John Bean Technologies in a report on Thursday, December 12th. They issued an “outperform” rating and a $150.00 price objective for the company.

John Bean Technologies Trading Down 0.8 %

Shares of JBT stock traded down $0.99 during trading hours on Thursday, reaching $126.11. 88,036 shares of the stock traded hands, compared to its average volume of 310,231. The firm has a market capitalization of $4.02 billion, a PE ratio of 23.40, a PEG ratio of 1.71 and a beta of 1.24. The business has a fifty day moving average price of $121.73 and a 200 day moving average price of $103.77. The company has a quick ratio of 2.00, a current ratio of 2.55 and a debt-to-equity ratio of 0.41. John Bean Technologies Co. has a 1-year low of $82.64 and a 1-year high of $132.69.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results 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 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 analyst estimates of $442.20 million. During the same period in the previous year, the company earned $1.11 EPS. The firm’s revenue was up 12.4% on a year-over-year basis. On average, equities research analysts forecast that John Bean Technologies Co. will post 5.21 EPS for the current year.

John Bean Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, December 13th. John Bean Technologies’s payout ratio 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.