Citigroup Inc. Sells 933,903 Shares of John Bean Technologies Co. (NYSE:JBT)

Citigroup Inc. reduced its stake in John Bean Technologies Co. (NYSE:JBT) by 95.7% during the third quarter, HoldingsChannel.com reports. The fund owned 41,865 shares of the industrial products company’s stock after selling 933,903 shares during the quarter. Citigroup Inc.’s holdings in John Bean Technologies were worth $4,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of John Bean Technologies by 113.2% during the 2nd quarter. CWM LLC now owns 324 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 172 shares during the period. Wolverine Asset Management LLC bought a new position in John Bean Technologies in the 3rd quarter worth about $39,000. Innealta Capital LLC bought a new position in John Bean Technologies in the 2nd quarter worth about $73,000. Kimelman & Baird LLC bought a new position in John Bean Technologies in the 2nd quarter worth about $85,000. Finally, KBC Group NV grew its stake in John Bean Technologies by 31.5% in the 3rd quarter. KBC Group NV now owns 1,014 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 243 shares in the last quarter. 98.92% of the stock is currently owned by institutional investors.

John Bean Technologies Price Performance

Shares of JBT stock opened at $124.17 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.55 and a quick ratio of 2.00. The company has a market capitalization of $3.95 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.74 and a beta of 1.24. The company’s 50-day simple moving average is $110.35 and its two-hundred day simple moving average is $99.24. John Bean Technologies Co. has a one year low of $82.64 and a one year high of $127.31.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. The firm had revenue of $453.80 million during the quarter, compared to analysts’ expectations of $442.20 million. During the same quarter in the prior year, the company earned $1.11 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that John Bean Technologies Co. will post 5.23 EPS for the current year.

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.