Zurich Insurance Group Ltd FI purchased a new position in shares of John Bean Technologies Corporation (NYSE:JBT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,837 shares of the industrial products company’s stock, valued at approximately $1,062,000.

Several other large investors have also recently made changes to their positions in JBT. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of John Bean Technologies Corporation by 62.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,216 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 467 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of John Bean Technologies Corporation by 67.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 466 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of John Bean Technologies Corporation by 27.4% during the 2nd quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 297 shares in the last quarter. US Bancorp DE boosted its stake in shares of John Bean Technologies Corporation by 78.4% during the 1st quarter. US Bancorp DE now owns 1,700 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 747 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of John Bean Technologies Corporation by 144.4% during the 1st quarter. Fifth Third Bancorp now owns 1,745 shares of the industrial products company’s stock worth $153,000 after acquiring an additional 1,031 shares in the last quarter. 99.25% of the stock is currently owned by institutional investors and hedge funds.

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Several brokerages have recently commented on JBT. BidaskClub raised John Bean Technologies Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Zacks Investment Research lowered John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Robert W. Baird set a $101.00 price target on John Bean Technologies Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. John Bean Technologies Corporation has an average rating of “Hold” and an average price target of $99.33.

In related news, VP Megan J. Rattigan sold 3,103 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $87.27, for a total transaction of $270,798.81. Following the completion of the sale, the vice president now directly owns 26,091 shares in the company, valued at $2,276,961.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven R. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $86.78, for a total transaction of $867,800.00. Following the sale, the executive vice president now owns 50,811 shares of the company’s stock, valued at $4,409,378.58. The disclosure for this sale can be found here. Insiders have sold 15,103 shares of company stock worth $1,314,919 in the last quarter. Company insiders own 1.81% of the company’s stock.

Shares of John Bean Technologies Corporation (NYSE:JBT) opened at 101.30 on Tuesday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 39.23 and a beta of 1.35. The stock’s 50 day moving average price is $94.10 and its 200 day moving average price is $90.84. John Bean Technologies Corporation has a 52 week low of $71.27 and a 52 week high of $102.45.

John Bean Technologies Corporation (NYSE:JBT) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.07. John Bean Technologies Corporation had a net margin of 5.32% and a return on equity of 29.18%. The business had revenue of $386.10 million for the quarter, compared to analyst estimates of $381.49 million. During the same quarter last year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts anticipate that John Bean Technologies Corporation will post $3.03 EPS for the current fiscal year.

About John Bean Technologies Corporation

John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.

Institutional Ownership by Quarter for John Bean Technologies Corporation (NYSE:JBT)

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