Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its position in John Bean Technologies Co. (NYSE:JBT – Free Report) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,636 shares of the industrial products company’s stock after selling 637 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in John Bean Technologies were worth $684,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Money Concepts Capital Corp bought a new stake in John Bean Technologies in the fourth quarter worth about $29,000. Belpointe Asset Management LLC lifted its stake in shares of John Bean Technologies by 124.0% during the 1st quarter. Belpointe Asset Management LLC now owns 392 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 217 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in John Bean Technologies during the 1st quarter valued at $59,000. Van ECK Associates Corp boosted its holdings in John Bean Technologies by 26.1% during the 1st quarter. Van ECK Associates Corp now owns 642 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 133 shares during the period. Finally, Bessemer Group Inc. grew its position in John Bean Technologies by 197.3% in the 1st quarter. Bessemer Group Inc. now owns 895 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 594 shares during the last quarter. 98.19% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. TheStreet lowered shares of John Bean Technologies from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. StockNews.com began coverage on shares of John Bean Technologies in a research report on Thursday, October 5th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, John Bean Technologies currently has an average rating of “Moderate Buy” and an average price target of $114.00.
John Bean Technologies Price Performance
Shares of JBT stock opened at $106.45 on Tuesday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 7.20 and a beta of 1.38. The company has a current ratio of 1.87, a quick ratio of 1.48 and a debt-to-equity ratio of 0.47. John Bean Technologies Co. has a twelve month low of $86.16 and a twelve month high of $125.88. The stock has a fifty day simple moving average of $104.08 and a two-hundred day simple moving average of $109.81.
John Bean Technologies (NYSE:JBT – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. The company had revenue of $403.60 million during the quarter, compared to analyst estimates of $416.38 million. John Bean Technologies had a net margin of 28.66% and a return on equity of 14.32%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. On average, analysts predict that John Bean Technologies Co. will post 4.01 EPS for the current fiscal year.
John Bean Technologies Company Profile
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries in North America, Europe, Middle East, Africa, Asia Pacific, and Latin America. The company operates through two segments: FoodTech and AeroTech. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, foaming, portioning, coating, cooking, frying, freezing, weighing, and inspection.
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