Alps Advisors Inc. Invests $477,000 in John Bean Technologies Corp (JBT) Stock

Alps Advisors Inc. purchased a new stake in shares of John Bean Technologies Corp (NYSE:JBT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,001 shares of the industrial products company’s stock, valued at approximately $477,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in John Bean Technologies by 8.3% during the second quarter. BlackRock Inc. now owns 4,366,522 shares of the industrial products company’s stock valued at $388,186,000 after buying an additional 333,968 shares during the period. Eagle Asset Management Inc. grew its position in John Bean Technologies by 2.1% during the second quarter. Eagle Asset Management Inc. now owns 921,199 shares of the industrial products company’s stock valued at $81,894,000 after buying an additional 19,352 shares during the period. Artisan Partners Limited Partnership grew its position in John Bean Technologies by 1.1% during the second quarter. Artisan Partners Limited Partnership now owns 687,407 shares of the industrial products company’s stock valued at $61,110,000 after buying an additional 7,766 shares during the period. Carillon Tower Advisers Inc. grew its position in John Bean Technologies by 7.9% during the second quarter. Carillon Tower Advisers Inc. now owns 684,254 shares of the industrial products company’s stock valued at $60,830,000 after buying an additional 50,000 shares during the period. Finally, Global X Management Co LLC grew its position in John Bean Technologies by 6.6% during the second quarter. Global X Management Co LLC now owns 598,799 shares of the industrial products company’s stock valued at $53,233,000 after buying an additional 36,836 shares during the period.

JBT opened at $89.00 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.87 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 1.42 and a beta of 1.26. John Bean Technologies Corp has a 52-week low of $84.81 and a 52-week high of $123.90.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.05). The company had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $489.81 million. John Bean Technologies had a net margin of 4.32% and a return on equity of 28.31%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. On average, research analysts anticipate that John Bean Technologies Corp will post 4.02 earnings per share for the current fiscal year.

JBT has been the topic of several recent analyst reports. ValuEngine raised shares of John Bean Technologies from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. TheStreet raised shares of John Bean Technologies from a “c+” rating to an “a-” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of John Bean Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. BMO Capital Markets increased their price objective on shares of John Bean Technologies from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, July 31st. Finally, JPMorgan Chase & Co. downgraded shares of John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 price objective on the stock. in a report on Friday, September 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. John Bean Technologies has a consensus rating of “Hold” and an average target price of $102.71.

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John Bean Technologies Company Profile

John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.

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

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