John Bean Technologies Co. (NYSE:JBT) Stake Raised by Bank of Montreal Can

Bank of Montreal Can grew its holdings in shares of John Bean Technologies Co. (NYSE:JBT) by 85.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,326 shares of the industrial products company’s stock after buying an additional 13,546 shares during the period. Bank of Montreal Can owned 0.09% of John Bean Technologies worth $4,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Ergoteles LLC raised its holdings in John Bean Technologies by 451.9% during the second quarter. Ergoteles LLC now owns 12,500 shares of the industrial products company’s stock worth $1,783,000 after purchasing an additional 10,235 shares in the last quarter. Xponance Inc. bought a new stake in John Bean Technologies during the second quarter worth approximately $282,000. Deutsche Bank AG raised its holdings in John Bean Technologies by 52.3% during the second quarter. Deutsche Bank AG now owns 37,100 shares of the industrial products company’s stock worth $5,292,000 after purchasing an additional 12,737 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in John Bean Technologies by 478.8% during the second quarter. Panagora Asset Management Inc. now owns 23,220 shares of the industrial products company’s stock worth $3,312,000 after purchasing an additional 19,208 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in John Bean Technologies by 72.8% during the second quarter. Fiera Capital Corp now owns 7,525 shares of the industrial products company’s stock worth $647,000 after purchasing an additional 3,171 shares in the last quarter.

NYSE JBT opened at $146.73 on Thursday. John Bean Technologies Co. has a twelve month low of $80.74 and a twelve month high of $161.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.62. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 44.87, a PEG ratio of 2.02 and a beta of 1.57. The firm’s 50 day moving average price is $146.65 and its two-hundred day moving average price is $141.51.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Monday, July 26th. The industrial products company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.19. John Bean Technologies had a net margin of 5.98% and a return on equity of 19.38%. The firm had revenue of $475.50 million for the quarter, compared to analysts’ expectations of $453.51 million. During the same period in the previous year, the company posted $1.09 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, research analysts forecast that John Bean Technologies Co. will post 4.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 23rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, August 20th. John Bean Technologies’s dividend payout ratio (DPR) is currently 10.15%.

In other John Bean Technologies news, Director Caroline Maury Devine sold 300 shares of John Bean Technologies stock in a transaction on Monday, July 19th. The shares were sold at an average price of $131.22, for a total transaction of $39,366.00. Following the completion of the sale, the director now owns 50,104 shares of the company’s stock, valued at approximately $6,574,646.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 900 shares of company stock valued at $125,829 in the last three months. Company insiders own 2.00% of the company’s stock.

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of John Bean Technologies from an “underweight” rating to a “neutral” rating and set a $130.00 price target on the stock in a research report on Monday, October 4th. Robert W. Baird lifted their price target on shares of John Bean Technologies from $151.00 to $162.00 and gave the stock an “outperform” rating in a research report on Thursday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, John Bean Technologies has a consensus rating of “Buy” and a consensus price target of $150.20.

John Bean Technologies Company Profile

John Bean Technologies Corp. is a technology solutions provider, which engages in the food, beverage, and air transportation industries. It operates through the JBT FoodTech and JBT AeroTech business segments. The JBT FoodTech segment designs, manufactures, and services technologically food processing systems for the preparation of meat, seafood and poultry products, ready-to-eat meals, shelf stable packaged foods, bakery products, juice and dairy products, and fruit and vegetable products.

Further Reading: What does a hold rating mean?

Institutional Ownership by Quarter for John Bean Technologies (NYSE:JBT)

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