Commerce Bank Buys New Holdings in John Bean Technologies Corporation (JBT)
Commerce Bank bought a new position in shares of John Bean Technologies Corporation (NYSE:JBT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,974 shares of the industrial products company’s stock, valued at approximately $604,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. increased its stake in John Bean Technologies Corporation by 30.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 728,675 shares of the industrial products company’s stock worth $71,410,000 after purchasing an additional 168,142 shares in the last quarter. Wells Fargo & Company MN increased its stake in John Bean Technologies Corporation by 6.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,667,276 shares of the industrial products company’s stock worth $163,393,000 after purchasing an additional 106,955 shares in the last quarter. Bamco Inc. NY increased its stake in John Bean Technologies Corporation by 33.3% in the 2nd quarter. Bamco Inc. NY now owns 400,000 shares of the industrial products company’s stock worth $39,200,000 after purchasing an additional 100,000 shares in the last quarter. Global X MANAGEMENT CO LLC increased its stake in John Bean Technologies Corporation by 181.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 154,148 shares of the industrial products company’s stock worth $15,584,000 after purchasing an additional 99,407 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new position in John Bean Technologies Corporation in the 2nd quarter worth about $6,979,000. 99.25% of the stock is currently owned by hedge funds and other institutional investors.
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In other John Bean Technologies Corporation news, EVP Steven R. Smith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $86.78, for a total transaction of $867,800.00. Following the completion of the sale, the executive vice president now directly owns 50,811 shares in the company, valued at approximately $4,409,378.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.81% of the company’s stock.
A number of equities analysts recently weighed in on the company. BidaskClub cut John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research cut John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Robert W. Baird set a $101.00 price target on John Bean Technologies Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $104.86.
Shares of John Bean Technologies Corporation (JBT) traded up $2.15 during midday trading on Tuesday, reaching $114.50. The company’s stock had a trading volume of 106,500 shares, compared to its average volume of 178,900. John Bean Technologies Corporation has a 12-month low of $80.55 and a 12-month high of $115.20. The firm has a market cap of $3,546.64, a price-to-earnings ratio of 39.56, a PEG ratio of 2.25 and a beta of 1.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.28 and a quick ratio of 0.82.
John Bean Technologies Corporation (NYSE:JBT) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. John Bean Technologies Corporation had a return on equity of 25.51% and a net margin of 5.41%. The firm had revenue of $420.80 million during the quarter, compared to analyst estimates of $414.17 million. During the same period last year, the company posted $0.69 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. equities research analysts forecast that John Bean Technologies Corporation will post 3.06 EPS for the current fiscal year.
About John Bean Technologies Corporation
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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