RK Capital Management LLC Cuts Stock Holdings in John Bean Technologies Co. (NYSE:JBT)

RK Capital Management LLC trimmed its holdings in shares of John Bean Technologies Co. (NYSE:JBT) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,240 shares of the industrial products company’s stock after selling 1,140 shares during the quarter. John Bean Technologies makes up approximately 2.4% of RK Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. RK Capital Management LLC owned about 0.29% of John Bean Technologies worth $11,067,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in John Bean Technologies by 0.9% during the third 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 in the last quarter. Wellington Management Group LLP boosted its holdings in shares of John Bean Technologies by 64.6% in the 1st quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after buying an additional 723,720 shares in the last quarter. State Street Corp grew its position in shares of John Bean Technologies by 3.7% in the 1st quarter. State Street Corp now owns 1,072,846 shares of the industrial products company’s stock worth $127,100,000 after buying an additional 38,132 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in John Bean Technologies by 2.7% in the first 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 in the last quarter. Finally, Turtle Creek Asset Management Inc. increased its position in shares of John Bean Technologies by 12.0% during the first 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 in the last quarter. Institutional investors own 98.19% of the company’s stock.

Analysts Set New Price Targets

JBT has been the topic of several research analyst reports. TheStreet downgraded John Bean Technologies from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. StockNews.com initiated coverage on John Bean Technologies in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.00.

John Bean Technologies Stock Performance

John Bean Technologies stock traded down $0.08 during mid-day trading on Monday, hitting $106.88. The company had a trading volume of 20,851 shares, compared to its average volume of 149,641. John Bean Technologies Co. has a 12-month low of $86.16 and a 12-month high of $125.88. The company’s fifty day moving average is $104.11 and its 200-day moving average is $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. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 6.10, a P/E/G ratio of 7.20 and a beta of 1.38.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $403.60 million for the quarter, compared to analyst estimates of $416.38 million. During the same period in the previous year, the company posted $1.27 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Equities research analysts predict that John Bean Technologies Co. will post 4.01 EPS for the current year.

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.