TIAA CREF Investment Management LLC Cuts Stake in John Bean Technologies Corporation (JBT)

TIAA CREF Investment Management LLC Cuts Stake in John Bean Technologies Corporation (JBT)

TIAA CREF Investment Management LLC cut its position in John Bean Technologies Corporation (NYSE:JBT) by 27.1% during the third quarter, Holdings Channel reports. The institutional investor owned 89,840 shares of the company’s stock after selling 33,401 shares during the period. TIAA CREF Investment Management LLC owned about 0.31% of John Bean Technologies Corporation worth $6,338,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in JBT. Bank of New York Mellon Corp raised its stake in shares of John Bean Technologies Corporation by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 539,876 shares of the company’s stock worth $38,089,000 after buying an additional 9,779 shares in the last quarter. Channing Capital Management LLC purchased a new stake in John Bean Technologies Corporation during the second quarter valued at about $32,658,000. BlackRock Advisors LLC raised its stake in John Bean Technologies Corporation by 11.2% in the third quarter. BlackRock Advisors LLC now owns 126,755 shares of the company’s stock valued at $8,943,000 after buying an additional 12,767 shares during the period. BlackRock Investment Management LLC raised its stake in John Bean Technologies Corporation by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 122,036 shares of the company’s stock valued at $8,610,000 after buying an additional 963 shares during the period. Finally, Victory Capital Management Inc. raised its stake in John Bean Technologies Corporation by 31,614.9% in the third quarter. Victory Capital Management Inc. now owns 430,054 shares of the company’s stock valued at $30,340,000 after buying an additional 428,698 shares during the period. 99.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of John Bean Technologies Corporation (NYSE:JBT) traded up 1.16% during trading on Friday, hitting $86.85. 28,386 shares of the stock traded hands. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 39.53 and a beta of 1.34. The stock has a 50 day moving average price of $85.12 and a 200-day moving average price of $75.91. John Bean Technologies Corporation has a 1-year low of $41.35 and a 1-year high of $93.55.

Several analysts have issued reports on JBT shares. Zacks Investment Research lowered shares of John Bean Technologies Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 27th. Sidoti lowered shares of John Bean Technologies Corporation from a “buy” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Thursday, December 1st.

In other news, VP Mark K. Montague sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $77.80, for a total transaction of $389,000.00. Following the completion of the sale, the vice president now owns 30,116 shares of the company’s stock, valued at approximately $2,343,024.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark K. Montague sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $78.87, for a total transaction of $197,175.00. Following the sale, the vice president now directly owns 25,116 shares of the company’s stock, valued at approximately $1,980,898.92. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

John Bean Technologies Corporation Company Profile

John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.

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