Principal Financial Group Inc. Cuts Stock Position in John Bean Technologies Co. (NYSE:JBT)

Principal Financial Group Inc. cut its holdings in shares of John Bean Technologies Co. (NYSE:JBT) by 4.5% during the third quarter, Holdings Channel reports. The firm owned 151,243 shares of the industrial products company’s stock after selling 7,091 shares during the quarter. Principal Financial Group Inc.’s holdings in John Bean Technologies were worth $14,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in John Bean Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,524,626 shares of the industrial products company’s stock worth $369,698,000 after purchasing an additional 31,798 shares during the period. Champlain Investment Partners LLC increased its stake in John Bean Technologies by 7.8% during the first quarter. Champlain Investment Partners LLC now owns 1,545,159 shares of the industrial products company’s stock worth $162,072,000 after purchasing an additional 112,035 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in John Bean Technologies by 57.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company’s stock worth $121,507,000 after purchasing an additional 466,846 shares during the period. Conestoga Capital Advisors LLC increased its stake in John Bean Technologies by 2.7% during the second quarter. Conestoga Capital Advisors LLC now owns 951,534 shares of the industrial products company’s stock worth $90,367,000 after purchasing an additional 24,981 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in John Bean Technologies by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 778,178 shares of the industrial products company’s stock worth $73,908,000 after purchasing an additional 19,549 shares during the period. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

John Bean Technologies Stock Down 1.1 %

Shares of NYSE:JBT opened at $116.42 on Friday. 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 firm has a market capitalization of $3.71 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The firm’s 50-day moving average is $102.49 and its two-hundred day moving average is $96.65. John Bean Technologies Co. has a 1 year low of $82.64 and a 1 year high of $122.90.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. The business had revenue of $453.80 million during the quarter, compared to the consensus estimate of $442.20 million. During the same period in the previous year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts predict 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.