PNC Financial Services Group Inc. lowered its position in John Bean Technologies Corp (NYSE:JBT) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,384 shares of the industrial products company’s stock after selling 9,079 shares during the quarter. PNC Financial Services Group Inc.’s holdings in John Bean Technologies were worth $35,955,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in JBT. BlackRock Inc. grew its stake in John Bean Technologies by 8.3% in the second quarter. BlackRock Inc. now owns 4,366,522 shares of the industrial products company’s stock worth $388,186,000 after purchasing an additional 333,968 shares in the last quarter. Voya Investment Management LLC boosted its position in John Bean Technologies by 1,761.6% during the 2nd quarter. Voya Investment Management LLC now owns 257,540 shares of the industrial products company’s stock valued at $22,895,000 after acquiring an additional 243,706 shares in the last quarter. FMR LLC boosted its position in John Bean Technologies by 18.5% during the 2nd quarter. FMR LLC now owns 531,891 shares of the industrial products company’s stock valued at $47,285,000 after acquiring an additional 83,191 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in John Bean Technologies by 16.8% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 505,417 shares of the industrial products company’s stock valued at $60,296,000 after acquiring an additional 72,637 shares in the last quarter. Finally, Carillon Tower Advisers Inc. boosted its position in John Bean Technologies by 7.9% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 684,254 shares of the industrial products company’s stock valued at $60,830,000 after acquiring an additional 50,000 shares in the last quarter.
Shares of NYSE JBT opened at $78.91 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.87 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.24 and a beta of 1.26. John Bean Technologies Corp has a 12-month low of $77.25 and a 12-month high of $123.90.
Several analysts have issued reports on the company. ValuEngine cut John Bean Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Robert W. Baird dropped their target price on John Bean Technologies from $119.00 to $95.00 and set a “hold” rating on the stock in a research report on Friday, November 2nd. JPMorgan Chase & Co. cut John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 target price on the stock. in a research report on Friday, September 21st. Zacks Investment Research cut John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Finally, BMO Capital Markets increased their target price on John Bean Technologies from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. John Bean Technologies presently has a consensus rating of “Hold” and a consensus price target of $102.71.
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About John Bean Technologies
John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
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