John Bean Technologies Corporation (JBT) is Well-Positioned to Accelerate Automation in the Industry

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTSX returned -21.52%, Advisor Class fund APDSX posted a return of -21.48%, and Institutional Class fund APHSX returned -21.47%, compared to a return of -19.25% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

In the second quarter 2022 investor letter, Artisan Partners discussed stocks like John Bean Technologies Corporation (NYSE:JBT). Headquartered in Chicago, Illinois, John Bean Technologies Corporation (NYSE:JBT) is a technology company. On September 27, 2022, John Bean Technologies Corporation (NYSE:JBT) stock closed at $85.68 per share. One-month return of John Bean Technologies Corporation (NYSE:JBT) was -17.02% and its shares lost 44.69% of their value over the last 52 weeks. John Bean Technologies Corporation (NYSE:JBT) has a market capitalization of $2.73 billion.

Here is what Artisan Partners specifically said about John Bean Technologies Corporation (NYSE:JBT) in its Q2 2022 investor letter:

“John Bean Technologies Corporation (NYSE:JBT) is a leading provider of technology solutions for the food-processing and air-transportation industries. We previously held shares of the company between 2019 and 2021, though ended our investment campaign as shares approached our PMV estimate. At the time, we still had conviction in the longer-term potential of the company’s food-processing business (~70% of revenue), which is well-positioned to help the industry accelerate automation (currently highly labor intensive). Shares have pulled back nearly 40% since late 2021, are within a reasonable range of our PMV estimate and we have witnessed signs the profit cycle may be close to an inflection point.”

the-main-processor-3334336_1280

John Bean Technologies Corporation (NYSE:JBT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held John Bean Technologies Corporation (NYSE:JBT) at the end of the second quarter which was 17 in the previous quarter.

We discussed John Bean Technologies Corporation (NYSE:JBT) in another article and shared Artisan Partners’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.