Public Sector Pension Investment Board Trims Holdings in John Bean Technologies Co. (NYSE:JBT)

Public Sector Pension Investment Board cut its position in shares of John Bean Technologies Co. (NYSE:JBTGet Rating) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,837 shares of the industrial products company’s stock after selling 457 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.18% of John Bean Technologies worth $6,497,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in John Bean Technologies by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,387,496 shares of the industrial products company’s stock worth $401,316,000 after acquiring an additional 11,651 shares during the period. Wellington Management Group LLP grew its position in shares of John Bean Technologies by 64.6% in the first quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after purchasing an additional 723,720 shares during the period. State Street Corp increased its stake in John Bean Technologies by 3.7% in the first quarter. State Street Corp now owns 1,072,846 shares of the industrial products company’s stock valued at $127,100,000 after purchasing an additional 38,132 shares during the last quarter. Royce & Associates LP lifted its position in John Bean Technologies by 10.7% during the first quarter. Royce & Associates LP now owns 675,926 shares of the industrial products company’s stock worth $80,077,000 after buying an additional 65,280 shares during the period. Finally, Brown Advisory Inc. boosted its stake in John Bean Technologies by 41.6% in the 2nd quarter. Brown Advisory Inc. now owns 636,847 shares of the industrial products company’s stock worth $70,426,000 after buying an additional 187,097 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on JBT. Robert W. Baird cut their price objective on shares of John Bean Technologies from $117.00 to $110.00 in a report on Thursday, October 27th. William Blair downgraded shares of John Bean Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 27th. StockNews.com initiated coverage on shares of John Bean Technologies in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, BMO Capital Markets cut their target price on John Bean Technologies from $135.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 2nd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.33.

John Bean Technologies Stock Performance

Shares of JBT stock opened at $91.68 on Thursday. The company has a current ratio of 1.41, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The company has a market cap of $2.92 billion, a PE ratio of 23.51, a P/E/G ratio of 1.50 and a beta of 1.39. The company’s fifty day simple moving average is $91.33 and its 200-day simple moving average is $105.03. John Bean Technologies Co. has a 52 week low of $81.59 and a 52 week high of $171.80.

John Bean Technologies (NYSE:JBTGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The industrial products company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. John Bean Technologies had a return on equity of 17.16% and a net margin of 6.05%. The company had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $557.57 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, equities research analysts anticipate that John Bean Technologies Co. will post 4.65 EPS for the current year.

Insider Buying and Selling at John Bean Technologies

In other news, Director Caroline Maury Devine sold 300 shares of the business’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $97.35, for a total transaction of $29,205.00. Following the transaction, the director now directly owns 46,749 shares of the company’s stock, valued at $4,551,015.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other John Bean Technologies news, CEO Brian A. Deck acquired 1,500 shares of the company’s stock in a transaction on Friday, October 28th. The shares were bought at an average cost of $90.91 per share, for a total transaction of $136,365.00. Following the acquisition, the chief executive officer now directly owns 73,154 shares of the company’s stock, valued at $6,650,430.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Caroline Maury Devine sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $97.35, for a total value of $29,205.00. Following the completion of the transaction, the director now directly owns 46,749 shares in the company, valued at $4,551,015.15. The disclosure for this sale can be found here. Insiders sold 900 shares of company stock valued at $84,102 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

John Bean Technologies Company Profile

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John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.

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

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