Harbor Investment Advisory LLC Boosts Stake in John Bean Technologies Co. (NYSE:JBT) – Defense World
Posted by admin on Jul 4th, 2022 
Harbor Investment Advisory LLC boosted its stake in John Bean Technologies Co. (NYSE:JBT – Get Rating) by 23.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 756 shares of the industrial products company’s stock after buying an additional 142 shares during the quarter. Harbor Investment Advisory LLC’s holdings in John Bean Technologies were worth $90,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of John Bean Technologies during the 4th quarter worth approximately $30,000. Confluence Wealth Services Inc. purchased a new position in John Bean Technologies in the 4th quarter valued at approximately $34,000. IndexIQ Advisors LLC lifted its position in shares of John Bean Technologies by 23.2% during the 4th quarter. IndexIQ Advisors LLC now owns 653 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 123 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of John Bean Technologies during the 4th quarter worth $134,000. Finally, Van ECK Associates Corp lifted its position in shares of John Bean Technologies by 40.6% during the 4th quarter. Van ECK Associates Corp now owns 1,019 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 294 shares during the last quarter.
In other John Bean Technologies news, Director Caroline Maury Devine sold 300 shares of John Bean Technologies stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $116.89, for a total value of $35,067.00. Following the transaction, the director now directly owns 48,249 shares in the company, valued at $5,639,825.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 900 shares of company stock worth $100,119. 1.30% of the stock is currently owned by company insiders.
Shares of JBT opened at $111.40 on Monday. John Bean Technologies Co. has a 1-year low of $98.57 and a 1-year high of $177.56. The stock has a market cap of $3.54 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 0.84. The firm has a fifty day moving average price of $115.78 and a 200 day moving average price of $123.81.
John Bean Technologies (NYSE:JBT – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.31. The firm had revenue of $469.20 million during the quarter, compared to analysts’ expectations of $440.64 million. John Bean Technologies had a net margin of 6.09% and a return on equity of 17.57%. During the same period in the previous year, the company earned $0.90 earnings per share. As a group, equities analysts expect that John Bean Technologies Co. will post 5.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Shareholders of record on Thursday, May 26th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, May 25th. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. John Bean Technologies’s dividend payout ratio is presently 10.96%.
Several research firms have recently issued reports on JBT. StockNews.com began coverage on shares of John Bean Technologies in a research report on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird reduced their price target on shares of John Bean Technologies from $143.00 to $140.00 in a research report on Wednesday, April 27th. Finally, TheStreet cut shares of John Bean Technologies from a “b” rating to a “c+” rating in a research report on Monday, March 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, John Bean Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.
About John Bean Technologies (Get Rating)
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.
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