Confluence Investment Management LLC Sells 2,543 Shares of John Bean Technologies Co. (NYSE:JBT)

Confluence Investment Management LLC reduced its stake in John Bean Technologies Co. (NYSE:JBT) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,815 shares of the industrial products company’s stock after selling 2,543 shares during the period. Confluence Investment Management LLC’s holdings in John Bean Technologies were worth $10,818,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. CWM LLC increased its holdings in shares of John Bean Technologies by 113.2% in the second 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 last quarter. Lazard Asset Management LLC bought a new stake in John Bean Technologies in the 1st quarter worth approximately $61,000. Innealta Capital LLC purchased a new stake in shares of John Bean Technologies during the 2nd quarter worth approximately $73,000. Kimelman & Baird LLC purchased a new stake in shares of John Bean Technologies during the 2nd quarter worth approximately $85,000. Finally, nVerses Capital LLC purchased a new position in shares of John Bean Technologies in the third quarter valued at $187,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

John Bean Technologies Price Performance

John Bean Technologies stock opened at $116.69 on Friday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.60 and a beta of 1.22. The firm’s fifty day moving average is $99.00 and its 200 day moving average is $95.51. The company has a quick ratio of 2.00, a current ratio of 2.55 and a debt-to-equity ratio of 0.41. John Bean Technologies Co. has a 52-week low of $82.64 and a 52-week high of $122.00.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $442.20 million. During the same period in the previous year, the firm posted $1.11 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Sell-side analysts forecast that John Bean Technologies Co. will post 5.21 EPS for the current fiscal 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.