John Bean Technologies Co. (NYSE:JBT) Shares Sold by RK Capital Management LLC

RK Capital Management LLC cut its stake in John Bean Technologies Co. (NYSE:JBT) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,240 shares of the industrial products company’s stock after selling 1,140 shares during the period. John Bean Technologies comprises approximately 2.4% of RK Capital Management LLC’s portfolio, making the stock its 18th largest position. RK Capital Management LLC’s holdings in John Bean Technologies were worth $11,067,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of John Bean Technologies by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,427,710 shares of the industrial products company’s stock valued at $294,782,000 after purchasing an additional 31,812 shares during the period. Wellington Management Group LLP boosted its holdings in shares of John Bean Technologies by 64.6% in the first quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after acquiring an additional 723,720 shares during the period. State Street Corp grew its position in shares of John Bean Technologies by 3.7% during the first quarter. State Street Corp now owns 1,072,846 shares of the industrial products company’s stock worth $127,100,000 after acquiring an additional 38,132 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of John Bean Technologies by 2.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 910,912 shares of the industrial products company’s stock valued at $99,554,000 after acquiring an additional 23,731 shares during the period. Finally, Turtle Creek Asset Management Inc. boosted its stake in John Bean Technologies by 12.0% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 780,949 shares of the industrial products company’s stock worth $85,350,000 after purchasing an additional 83,500 shares during the period. Hedge funds and other institutional investors own 98.19% of the company’s stock.

John Bean Technologies Price Performance

Shares of JBT traded down $0.08 during trading hours on Monday, reaching $106.88. The company had a trading volume of 20,851 shares, compared to its average volume of 149,641. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 7.20 and a beta of 1.38. John Bean Technologies Co. has a 12-month low of $86.16 and a 12-month high of $125.88. The firm has a 50 day simple moving average of $104.11 and a 200-day simple moving average of $109.78. The company has a current ratio of 1.87, a quick ratio of 1.48 and a debt-to-equity ratio of 0.47.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.99 by $0.12. John Bean Technologies had a return on equity of 14.32% and a net margin of 28.66%. The business had revenue of $403.60 million for the quarter, compared to analyst estimates of $416.38 million. During the same quarter in the previous year, the company earned $1.27 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts expect that John Bean Technologies Co. will post 4.01 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on JBT shares. TheStreet downgraded John Bean Technologies from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. StockNews.com began coverage on shares of John Bean Technologies in a report on Thursday, October 5th. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

John Bean Technologies Profile

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.