Quadrant Capital Group LLC Sells 113 Shares of John Bean Technologies Co. (NYSE:JBT)

Quadrant Capital Group LLC cut its holdings in John Bean Technologies Co. (NYSE:JBT) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,421 shares of the industrial products company’s stock after selling 113 shares during the period. Quadrant Capital Group LLC’s holdings in John Bean Technologies were worth $172,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Money Concepts Capital Corp bought a new stake in John Bean Technologies in the fourth quarter worth $29,000. Belpointe Asset Management LLC lifted its stake in John Bean Technologies by 124.0% in the first quarter. Belpointe Asset Management LLC now owns 392 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 217 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of John Bean Technologies during the first quarter valued at about $59,000. Van ECK Associates Corp raised its stake in shares of John Bean Technologies by 26.1% during the first quarter. Van ECK Associates Corp now owns 642 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 133 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of John Bean Technologies by 197.3% during the first quarter. Bessemer Group Inc. now owns 895 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 594 shares during the last quarter. 98.19% of the stock is owned by institutional investors.

John Bean Technologies Price Performance

Shares of NYSE JBT opened at $106.45 on Tuesday. John Bean Technologies Co. has a 1 year low of $86.16 and a 1 year high of $125.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.87 and a quick ratio of 1.48. The company’s 50-day moving average is $104.08 and its 200 day moving average is $109.81. The stock has a market capitalization of $3.39 billion, a P/E ratio of 6.09, a P/E/G ratio of 7.20 and a beta of 1.38.

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

Wall Street Analyst Weigh In

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

About John Bean Technologies

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.