In this article, we are going to check out top 5 best industrial stocks to buy now, based on Insider Monkey’s latest article. According to Insider Monkey, industrial sector is among the three sectors that make up a country’s economy. The sector was highly influenced by the coronavirus pandemic in 2020, due to the enforced lockdowns and social distance which led to severe losses. The global industrial production saw a 3.94% shrink in the first half of 2020. The industrial sector is tightly linked to the performance of the economy. If the economy grows, the manufacturing industry thrives.
And now, without a further ado, let’s see what Insider Monkey has investigated for us about the best industrial stocks. On the fifth spot we can see Accenture Plc with 46 hedge funds, meaning a total value of hedge fund holdings of $1,14 billion. Cliff Asness’ AQR Capital Management is the top hedge fund holder having invested $293 million in the stock at the end of September 2020. Accenture is the biggest IT consulting and outsourcing company with having $6 billion of cash on its balance and negligible debt. Its management is stable with an average tenure of the top 5000 executives of the past 15 years. Old Dominion Freight Line, Inc. is on the fourth spot with having 47 hedge funds and a total value of hedge fund holdings of $787 Million. All the hedge funds were bullish on this stock at the end of Q3, reports Insider Monkey. Cliff Asness’ AQR Capital Management is the top hedge fund holder with having invested $135 million at the end of September. TransDigm Group, Inc. became the second industrial stock to buy on Insider Monkey’s list with 64 hedge funds, and a total value of hedge fund holdings of $6.12 billion. Chase Coleman And Feroz Dewan’s Tiger Global Management LLC is the top hedge fund holder with having invested $834 million in stock at the end of the third quarter. 1 share was sold for $600 in December 2020. The stock has seen a decrease of 7% since then. If you are interested in more detailed information on this topic, please click and jump to the entire list of the best industrial stocks to buy now.