Is John Bean Technologies Corporation (NYSE:JBT) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas. Insider Monkey has unsheathed a few investment strategies that have historically exceeded Mr. Market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 12 percentage points a year for a decade in our back tests.
John Bean Technologies returned more than 50% over the last 12 months and most of these gains came over the last 3 months. Our calculations show that the smart money actually turned bullish before the recent increases. The number of long hedge fund positions in JBT went up by 3 during the third quarter. At the end of this article we will also compare JBT to other stocks including Innospec Inc. (NASDAQ:IOSP), Omnicell, Inc. (NASDAQ:OMCL), and The Navigators Group, Inc (NASDAQ:NAVG) to get a better sense of its popularity.
What does the smart money think about John Bean Technologies Corporation (NYSE:JBT)?
At Q3’s end, a total of 19 of the hedge funds tracked by Insider Monkey were long this stock, a change of 19% from the second quarter. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their holdings considerably (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Chuck Royce’s Royce & Associates has the largest position in John Bean Technologies Corporation (NYSE:JBT), worth close to $53.7 million, amounting to 0.3% of its total 13F portfolio. The second most bullish fund manager is Peter Schliemann of Rutabaga Capital Management, with a $13.9 million position; 1.7% of its 13F portfolio is allocated to the company. Remaining hedge funds and institutional investors that hold long positions include Joel Greenblatt’s Gotham Asset Management, Phill Gross and Robert Atchinson’s Adage Capital Management and D. E. Shaw’s D E Shaw.