Hedge Funds Are Selling FMC Technologies, Inc. (FTI)

Judging by the fact that FMC Technologies, Inc. (NYSE:FTI) has experienced a declining sentiment from the smart money, we can see that there is a sect of fund managers who were dropping their positions entirely by the end of the third quarter. At the top of the heap, Jamie Zimmerman’s Litespeed Management sold off the biggest stake of the “upper crust” of funds monitored by Insider Monkey, valued at about $64.6 million in stock. Larry Foley and Paul Farrell’s fund, Bronson Point Partners, also dropped its stock, about $26.3 million worth. These transactions are interesting, as total hedge fund interest fell by 5 funds by the end of the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to FMC Technologies, Inc. (NYSE:FTI). These stocks are Splunk Inc (NASDAQ:SPLK), Pinnacle West Capital Corporation (NYSE:PNW), Aramark (NYSE:ARMK), and DENTSPLY International Inc. (NASDAQ:XRAY). All of these stocks’ market caps match FTI’s market cap.

As you can see these stocks had an average of 31 hedge funds with bullish positions and the average amount invested in these stocks was $1.08 billion. That figure was $1.22 billion in FTI’s case. Aramark (NYSE:ARMK) is the most popular stock in this table, while Pinnacle West Capital Corporation (NYSE:PNW) is the least popular one with only 18 bullish hedge fund positions. FMC Technologies, Inc. (NYSE:FTI) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ARMK might be a better candidate to consider a long position.