Do Hedge Funds Love Aon PLC (AON)?

On the other hand, there also were some funds that sold out their entire stakes in Aon PLC during the third quarter. At the top of the heap, Gavin M. Abrams’s Abrams Bison Investments said goodbye to the largest position of the “upper crust” of funds monitored by Insider Monkey, comprising close to $86.5 million in stock, and Andreas Halvorsen’s Viking Global was right behind this move, as the fund said goodbye to about $76.9 million worth of shares. These moves are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s go over hedge fund activity in other stocks similar to Aon PLC (NYSE:AON). These stocks are Johnson Controls, Inc. (NYSE:JCI), SYSCO Corporation (NYSE:SYY), Kellogg Company (NYSE:K), and Intuit Inc. (NASDAQ:INTU). This group of stocks’ market values are similar to AON’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JCI 55 2833460 23
SYY 33 3556925 2
K 39 1306871 12
INTU 26 697375 -2

As you can see these stocks had an average of 38 hedge funds with bullish positions and the average amount invested in these stocks was $2.10 billion. That figure was $2.67 billion in AON’s case. Johnson Controls, Inc. (NYSE:JCI) is the most popular stock in this table. On the other hand Intuit Inc. (NASDAQ:INTU) is the least popular one with only 26 bullish hedge fund positions. Aon PLC (NYSE:AON) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Johnson Controls, Inc. (NYSE:JCI) might be a better candidate to consider a long position.

Disclosure: None