Westfield Capital Management Co. LP Grows Position in John Bean Technologies Corporation (JBT)

Westfield Capital Management Co. LP increased its position in John Bean Technologies Corporation (NYSE:JBT) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 529,963 shares of the industrial products company’s stock after buying an additional 17,161 shares during the period. Westfield Capital Management Co. LP owned 1.68% of John Bean Technologies Corporation worth $51,936,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of JBT. Glen Harbor Capital Management LLC lifted its position in shares of John Bean Technologies Corporation by 4.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,144 shares of the industrial products company’s stock worth $101,000 after buying an additional 44 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in John Bean Technologies Corporation by 62.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,216 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 467 shares during the period. Oppenheimer Asset Management Inc. raised its position in John Bean Technologies Corporation by 67.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 466 shares during the period. Elkfork Partners LLC raised its position in John Bean Technologies Corporation by 4.0% during the first quarter. Elkfork Partners LLC now owns 1,456 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 56 shares during the period. Finally, US Bancorp DE raised its position in John Bean Technologies Corporation by 78.4% during the first quarter. US Bancorp DE now owns 1,700 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 747 shares during the period. Institutional investors own 99.25% of the company’s stock.

A number of brokerages have issued reports on JBT. BidaskClub downgraded John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Robert W. Baird set a $101.00 price objective on John Bean Technologies Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, J P Morgan Chase & Co began coverage on John Bean Technologies Corporation in a research report on Friday, June 2nd. They set a “neutral” rating and a $88.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. John Bean Technologies Corporation currently has an average rating of “Hold” and a consensus target price of $99.86.

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John Bean Technologies Corporation (JBT) traded down 0.62% on Friday, hitting $95.50. The stock had a trading volume of 135,975 shares. The firm’s 50 day moving average price is $90.38 and its 200-day moving average price is $89.76. The stock has a market cap of $3.02 billion, a PE ratio of 36.99 and a beta of 1.32. John Bean Technologies Corporation has a 12 month low of $66.08 and a 12 month high of $99.20.

John Bean Technologies Corporation (NYSE:JBT) last issued its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.07. The firm had revenue of $386.10 million for the quarter, compared to the consensus estimate of $381.49 million. John Bean Technologies Corporation had a net margin of 5.32% and a return on equity of 29.18%. John Bean Technologies Corporation’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.67 EPS. On average, analysts forecast that John Bean Technologies Corporation will post $3.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This is an increase from John Bean Technologies Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.42%. John Bean Technologies Corporation’s dividend payout ratio (DPR) is currently 15.44%.

In related news, Director Caroline Maury Devine sold 2,000 shares of John Bean Technologies Corporation stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $88.16, for a total value of $176,320.00. Following the sale, the director now directly owns 48,592 shares in the company, valued at approximately $4,283,870.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Steven R. Smith sold 10,000 shares of John Bean Technologies Corporation stock in a transaction dated Tuesday, August 29th. The shares were 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 owns 50,811 shares in the company, valued at $4,409,378.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,103 shares of company stock worth $1,314,919. 1.81% of the stock is currently owned by insiders.

John Bean Technologies Corporation Profile

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.

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

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