There was a specific group of hedgies who sold off their positions entirely in the first quarter. Interestingly, William B. Gray’s Orbis Investment Management sold off the largest position of all the hedgies monitored by Insider Monkey, totaling close to $22.4 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund dropped about $12.8 million worth of shares.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Lockheed Martin Corporation (NYSE:LMT) but similarly valued. We will take a look at Union Pacific Corporation (NYSE:UNP), Goldman Sachs Group, Inc. (NYSE:GS), Simon Property Group, Inc (NYSE:SPG), and Danaher Corporation (NYSE:DHR). All of these stocks’ market caps are closest to LMT’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 49 hedge funds with bullish positions and the average amount invested in these stocks was $2321 million. That figure was $867 million in LMT’s case. Goldman Sachs Group, Inc. (NYSE:GS) is the most popular stock in this table. On the other hand Simon Property Group, Inc (NYSE:SPG) is the least popular one with only 25 bullish hedge fund positions. Lockheed Martin Corporation (NYSE:LMT) 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 GS might be a better candidate to consider a long position.