abrdn plc cut its stake in shares of John Bean Technologies Co. (NYSE:JBT – Free Report) by 38.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,483 shares of the industrial products company’s stock after selling 48,191 shares during the quarter. abrdn plc owned approximately 0.24% of John Bean Technologies worth $8,468,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of JBT. US Bancorp DE increased its position in shares of John Bean Technologies by 3.6% during the first quarter. US Bancorp DE now owns 5,821 shares of the industrial products company’s stock worth $689,000 after acquiring an additional 200 shares during the period. HighTower Advisors LLC increased its holdings in John Bean Technologies by 4.6% during the first quarter. HighTower Advisors LLC now owns 6,476 shares of the industrial products company’s stock valued at $761,000 after buying an additional 282 shares during the period. Private Advisor Group LLC increased its holdings in John Bean Technologies by 6.7% during the first quarter. Private Advisor Group LLC now owns 2,992 shares of the industrial products company’s stock valued at $354,000 after buying an additional 188 shares during the period. Citigroup Inc. increased its holdings in John Bean Technologies by 11.5% during the first quarter. Citigroup Inc. now owns 30,180 shares of the industrial products company’s stock valued at $3,575,000 after buying an additional 3,120 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in John Bean Technologies by 55.8% during the first quarter. MetLife Investment Management LLC now owns 16,840 shares of the industrial products company’s stock valued at $1,995,000 after buying an additional 6,030 shares during the period. 97.66% of the stock is owned by hedge funds and other institutional investors.
John Bean Technologies Trading Down 1.3 %
NYSE:JBT opened at $116.00 on Friday. John Bean Technologies Co. has a 12 month low of $81.59 and a 12 month high of $125.88. The firm has a fifty day simple moving average of $114.97 and a 200-day simple moving average of $109.01. The company has a current ratio of 1.40, a quick ratio of 0.83 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $3.69 billion, a P/E ratio of 28.43, a PEG ratio of 6.76 and a beta of 1.43.
John Bean Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Thursday, May 25th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, May 24th. This represents a $0.40 annualized dividend and a dividend yield of 0.34%. John Bean Technologies’s payout ratio is currently 9.80%.
Analyst Ratings Changes
Several brokerages recently issued reports on JBT. StockNews.com began coverage on shares of John Bean Technologies in a report on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet raised shares of John Bean Technologies from a “c+” rating to a “b-” rating in a report on Monday, July 3rd. 58.com restated a “reiterates” rating on shares of John Bean Technologies in a research note on Friday, June 30th. Robert W. Baird restated an “outperform” rating and issued a $128.00 target price on shares of John Bean Technologies in a research note on Friday, June 30th. Finally, 888 restated a “reiterates” rating on shares of John Bean Technologies in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.00.
About John Bean Technologies
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries in North America, Europe, Middle East, Africa, Asia Pacific, and Latin America. The company operates through two segments: FoodTech and AeroTech. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, foaming, portioning, coating, cooking, frying, freezing, weighing, and inspection.
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