Trading Report: Today, 5,962 Shares of John Bean Technologies Corp. (JBT) are sold by Profit Investment Management LLC

Today, 5,962 Shares of John Bean Technologies Corp. (JBT) are sold by Profit Investment Management LLC

Profit Investment Management LLC cut its stake in shares of John Bean Technologies Corp. (NYSE:JBT) by 16.1% during the third quarter, Holdings Channel reports. The firm owned 31,130 shares of the company’s stock after selling 5,962 shares during the period. John Bean Technologies Corp. accounts for about 2.2% of Profit Investment Management LLC’s holdings, making the stock its 7th largest position. Profit Investment Management LLC’s holdings in John Bean Technologies Corp. were worth $2,196,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its stake in shares of John Bean Technologies Corp. by 2.2% in the second quarter. BlackRock Fund Advisors now owns 1,841,437 shares of the company’s stock worth $112,733,000 after buying an additional 38,790 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of John Bean Technologies Corp. by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,015,149 shares of the company’s stock worth $62,145,000 after buying an additional 13,406 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of John Bean Technologies Corp. by 8.5% in the second quarter. Artisan Partners Limited Partnership now owns 903,639 shares of the company’s stock worth $55,321,000 after buying an additional 70,815 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of John Bean Technologies Corp. by 23.1% in the second quarter. Westfield Capital Management Co. LP now owns 628,965 shares of the company’s stock worth $38,505,000 after buying an additional 117,895 shares during the period. Finally, State Street Corp boosted its stake in shares of John Bean Technologies Corp. by 2.9% in the first quarter. State Street Corp now owns 586,050 shares of the company’s stock worth $33,057,000 after buying an additional 16,281 shares during the period. Institutional investors and hedge funds own 98.36% of the company’s stock.

John Bean Technologies Corp. (NYSE:JBT) traded down 0.82% during trading on Monday, hitting $90.95. The stock had a trading volume of 163,379 shares. John Bean Technologies Corp. has a 52-week low of $41.35 and a 52-week high of $91.85. The stock’s 50-day moving average is $79.73 and its 200-day moving average is $68.87. The stock has a market capitalization of $2.65 billion, a PE ratio of 41.40 and a beta of 1.32.

John Bean Technologies Corp. (NYSE:JBT) last released its earnings results on Wednesday, October 26th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. John Bean Technologies Corp. had a return on equity of 48.82% and a net margin of 5.04%. The business had revenue of $349.60 million for the quarter, compared to analyst estimates of $260 million. During the same quarter last year, the firm posted $0.43 earnings per share. The business’s revenue was up 27.9% compared to the same quarter last year. On average, analysts predict that John Bean Technologies Corp. will post $2.37 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised John Bean Technologies Corp. from a “hold” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research report on Tuesday, November 1st.

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

John Bean Technologies Corp. 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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