Pier Capital LLC Has $5.68 Million Stake in John Bean Technologies Corporation (JBT)

Pier Capital LLC lessened its position in shares of John Bean Technologies Corporation (NYSE:JBT) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,180 shares of the industrial products company’s stock after selling 5,303 shares during the quarter. Pier Capital LLC owned about 0.18% of John Bean Technologies worth $5,680,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JBT. Oppenheimer Asset Management Inc. raised its position in shares of John Bean Technologies by 67.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock valued at $113,000 after buying an additional 466 shares during the period. Advisor Group Inc. raised its position in shares of John Bean Technologies by 27.4% during the 2nd quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock valued at $129,000 after buying an additional 297 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of John Bean Technologies by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,330 shares of the industrial products company’s stock valued at $130,000 after buying an additional 114 shares during the period. D.A. Davidson & CO. raised its position in John Bean Technologies by 1.2% in the second quarter. D.A. Davidson & CO. now owns 1,574 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 19 shares during the period. Finally, US Bancorp DE raised its position in John Bean Technologies by 7.6% in the second quarter. US Bancorp DE now owns 1,830 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 130 shares during the period. 99.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of John Bean Technologies Corporation (NYSE:JBT) traded down $0.90 during midday trading on Tuesday, reaching $117.05. The company’s stock had a trading volume of 167,500 shares, compared to its average volume of 177,751. The stock has a market capitalization of $3,723.42, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.35. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. John Bean Technologies Corporation has a 52 week low of $80.70 and a 52 week high of $120.55.

John Bean Technologies (NYSE:JBT) last announced its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $420.80 million for the quarter, compared to analyst estimates of $414.17 million. John Bean Technologies had a return on equity of 25.51% and a net margin of 5.41%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. analysts predict that John Bean Technologies Corporation will post 3.06 EPS for the current fiscal year.

A number of analysts have issued reports on the company. Zacks Investment Research raised John Bean Technologies from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research report on Tuesday, November 28th. Robert W. Baird boosted their target price on John Bean Technologies from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $105.57.

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John Bean Technologies Profile

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 (NYSE:JBT)

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