Prudential Financial Inc. decreased its holdings in John Bean Technologies Corporation (NYSE:JBT) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,866 shares of the industrial products company’s stock after selling 9,580 shares during the quarter. Prudential Financial Inc. owned 0.17% of John Bean Technologies Corporation worth $5,279,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Tygh Capital Management Inc. raised its stake in shares of John Bean Technologies Corporation by 6.1% in the 2nd quarter. Tygh Capital Management Inc. now owns 64,321 shares of the industrial products company’s stock valued at $6,303,000 after buying an additional 3,717 shares in the last quarter. American Century Companies Inc. raised its stake in shares of John Bean Technologies Corporation by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 519,043 shares of the industrial products company’s stock valued at $50,866,000 after buying an additional 15,940 shares in the last quarter. Geneva Advisors LLC acquired a new position in shares of John Bean Technologies Corporation in the 2nd quarter valued at $998,000. Stanley Laman Group Ltd. raised its stake in shares of John Bean Technologies Corporation by 5.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 9,431 shares of the industrial products company’s stock valued at $924,000 after buying an additional 497 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in shares of John Bean Technologies Corporation by 13.4% in the 2nd quarter. Federated Investors Inc. PA now owns 17,027 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 2,007 shares in the last quarter. Institutional investors own 99.25% of the company’s stock.

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Shares of John Bean Technologies Corporation (JBT) opened at 97.30 on Tuesday. The stock has a 50 day moving average of $90.25 and a 200 day moving average of $89.70. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 37.68 and a beta of 1.32. John Bean Technologies Corporation has a 12-month low of $65.92 and a 12-month high of $99.20.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. 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. John Bean Technologies Corporation’s payout ratio is 15.44%.

JBT has been the subject of a number of recent research reports. Robert W. Baird set a $101.00 price objective on shares of John Bean Technologies Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research cut shares of John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of John Bean Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, J P Morgan Chase & Co initiated coverage on shares of John Bean Technologies Corporation in a research note on Friday, June 2nd. They issued a “neutral” rating and a $88.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. John Bean Technologies Corporation has an average rating of “Hold” and an average price target of $99.86.

In related news, Director Caroline Maury Devine sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $88.16, for a total value of $176,320.00. Following the completion of the transaction, the director now owns 48,592 shares of the company’s stock, valued at $4,283,870.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven R. Smith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $86.78, for a total value of $867,800.00. Following the completion of the transaction, the executive vice president now directly owns 50,811 shares of the company’s stock, valued at approximately $4,409,378.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,103 shares of company stock valued at $1,314,919. 1.81% of the stock is 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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