Victory Capital Management Inc. Has $87.33 Million Stock Position in John Bean Technologies Co. (NYSE:JBT)

Victory Capital Management Inc. increased its stake in John Bean Technologies Co. (NYSE:JBT) by 6.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 878,152 shares of the industrial products company’s stock after purchasing an additional 51,608 shares during the quarter. Victory Capital Management Inc.’s holdings in John Bean Technologies were worth $87,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its stake in John Bean Technologies by 2.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 920,281 shares of the industrial products company’s stock valued at $91,522,000 after acquiring an additional 21,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in John Bean Technologies by 1.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 383,504 shares of the industrial products company’s stock valued at $38,139,000 after purchasing an additional 6,327 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in John Bean Technologies by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 343,967 shares of the industrial products company’s stock worth $36,165,000 after purchasing an additional 14,280 shares during the period. WCM Investment Management LLC increased its position in John Bean Technologies by 2.6% during the fourth quarter. WCM Investment Management LLC now owns 160,932 shares of the industrial products company’s stock worth $16,291,000 after buying an additional 4,022 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in John Bean Technologies in the fourth quarter valued at approximately $12,594,000. 98.92% of the stock is owned by institutional investors.

John Bean Technologies Stock Performance

Shares of JBT stock opened at $91.14 on Friday. John Bean Technologies Co. has a 52 week low of $88.03 and a 52 week high of $125.88. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 1.45 and a beta of 1.29. The company has a 50-day simple moving average of $97.48 and a 200 day simple moving average of $100.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.78 and a current ratio of 2.37.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $392.30 million during the quarter, compared to analysts’ expectations of $396.55 million. John Bean Technologies had a return on equity of 10.56% and a net margin of 36.12%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, sell-side analysts predict that John Bean Technologies Co. will post 5.1 earnings per share for the current year.

John Bean Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a $0.10 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. John Bean Technologies’s payout ratio is presently 2.13%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reissued an “outperform” rating and set a $121.00 target price on shares of John Bean Technologies in a report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $121.00.

About John Bean Technologies

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.