Does Air Products & Chemicals, Inc. (APD) Represent A Good Investment?

On the other hand, there also exists a select few hedge funds that decided to sell off their full holdings by the end of the third quarter. Among this group of investors, John Griffin’s Blue Ridge Capital said goodbye to the biggest stake of all the hedgies tracked by Insider Monkey, comprising about $226.8 million in stock, and First Eagle Investment Management was right behind this move, as the fund dumped about $74.8 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to General Electric Company (NYSE:GE). We will take a look at Wipro Limited (ADR) (NYSE:WIT), Liberty Global PLC LiLAC Class A (NASDAQ:LILA), and IntercontinentalExchange Inc (NYSE:ICE). This group of stocks’ market valuations are closest to GE’s market valuation.

As it can be seen from this table, the average number of funds bullish on each of these stocks is 31, and the average amount invested is about $950 million, which is significantly lower than the $4.34 billion in Air Products & Chemicals’ case. The most popular stock in the table is IntercontinentalExchange Inc (NYSE:ICE), in which 47 funds held shares at the end of September, while the least popular is Wipro Limited (ADR) (NYSE:WIT), with only eight positions. Compared to these stocks, APD is more popular, which suggests that it may be a good idea to take a closer look at the other metrics and potentially include the company in your portfolio.