John Bean Technologies Co. (NYSE:JBT) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in John Bean Technologies Co. (NYSE:JBT) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,941 shares of the industrial products company’s stock after selling 492 shares during the quarter. PNC Financial Services Group Inc.’s holdings in John Bean Technologies were worth $292,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. OLD National Bancorp IN grew its position in John Bean Technologies by 7.6% in the third quarter. OLD National Bancorp IN now owns 2,249 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 158 shares during the period. Wrapmanager Inc. grew its holdings in shares of John Bean Technologies by 5.4% during the 4th quarter. Wrapmanager Inc. now owns 3,515 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 180 shares during the period. QRG Capital Management Inc. raised its holdings in John Bean Technologies by 8.0% in the 4th quarter. QRG Capital Management Inc. now owns 2,651 shares of the industrial products company’s stock valued at $264,000 after buying an additional 197 shares during the period. Diversified Trust Co lifted its position in John Bean Technologies by 2.9% in the fourth quarter. Diversified Trust Co now owns 9,675 shares of the industrial products company’s stock valued at $962,000 after buying an additional 275 shares during the last quarter. Finally, Cascade Investment Advisors Inc. boosted its stake in John Bean Technologies by 4.6% during the fourth quarter. Cascade Investment Advisors Inc. now owns 11,468 shares of the industrial products company’s stock worth $1,140,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, William Blair restated a “market perform” rating on shares of John Bean Technologies in a report on Thursday, May 2nd.

John Bean Technologies Price Performance

JBT stock opened at $94.97 on Monday. The business’s fifty day moving average price is $94.18 and its 200 day moving average price is $97.51. John Bean Technologies Co. has a 12-month low of $88.03 and a 12-month high of $125.88. The company has a current ratio of 2.37, a quick ratio of 1.83 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3.02 billion, a PE ratio of 5.07, a P/E/G ratio of 1.46 and a beta of 1.31.

John Bean Technologies (NYSE:JBT) last released its earnings results on Wednesday, May 1st. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. John Bean Technologies had a return on equity of 10.56% and a net margin of 36.12%. The company had revenue of $392.30 million during the quarter, compared to the consensus estimate of $396.55 million. During the same period in the previous year, the company posted $0.94 EPS. John Bean Technologies’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that John Bean Technologies Co. will post 5.15 EPS for the current year.

John Bean Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a $0.10 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $0.40 annualized dividend and a yield of 0.42%. John Bean Technologies’s dividend payout ratio is presently 2.13%.

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.