Shapiro Capital Cuts John Bean Technologies Stake to 3.2%

Shapiro Capital Management, John Bean Technologies Corp: Shapiro Capital Management recently reported cutting down its position in John Bean Technologies Corp (NYSE:JBT) to 931,336 shares, versus some 2.54 million shares disclosed in its latest 13F filing. The new position represents  3.22% of John Bean and has a value of over $23.29 million at the current stock price of the company.

John Bean is engaged in technology services for food processing and air transportation, and it has won several contracts recently. At the beginning of September, Ford Motor Company awarded JBT a $10 million contract for expanding its automated vehicle guided systems. The company has already 250 such systems developed for automated material delivery installed in Ford’s plants, JBT said in a statement. The company also received a $4 million contract from Guam’s A.B. Won Pat International Airport Authority.

Chuck Royce‘s Royce & Associates is also a shareholder of John Bean Technologies, owning 381,656 shares disclosed in its latest 13F. D. E. Shaw‘s D E Shaw & Co and Jim Simons‘ Renaissance Technologies are long as well.

Disclosure: none

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