Old West Investment Management Has Cut General Electric Co (GE) Stake by $2.65 Million; Stock Value Declined; Apple (AAPL) Market Value Rose While Montag & Caldwell Has Lowered Its Holding

February 24, 2018 - By Peter Erickson

Old West Investment Management Llc decreased its stake in General Electric Co (GE) by 77.5% based on its latest 2017Q3 regulatory filing with the SEC. Old West Investment Management Llc sold 110,481 shares as the company’s stock declined 7.64% while stock markets rallied. The hedge fund held 32,074 shares of the consumer electronics and appliances company at the end of 2017Q3, valued at $775,000, down from 142,555 at the end of the previous reported quarter. Old West Investment Management Llc who had been investing in General Electric Co for a number of months, seems to be less bullish one the $125.66B market cap company. The stock decreased 0.07% or $0.01 during the last trading session, reaching $14.49. About 52.91 million shares traded. General Electric Company (NYSE:GE) has declined 4.46% since February 24, 2017 and is downtrending. It has underperformed by 21.16% the S&P500.

Montag & Caldwell Llc decreased its stake in Apple Inc (AAPL) by 40.25% based on its latest 2017Q3 regulatory filing with the SEC. Montag & Caldwell Llc sold 438,338 shares as the company’s stock rose 12.78% with the market. The institutional investor held 650,827 shares of the computer manufacturing company at the end of 2017Q3, valued at $100.31 million, down from 1.09 million at the end of the previous reported quarter. Montag & Caldwell Llc who had been investing in Apple Inc for a number of months, seems to be less bullish one the $890.49 billion market cap company. The stock increased 1.74% or $3 during the last trading session, reaching $175.5. About 33.81M shares traded. Apple Inc. (NASDAQ:AAPL) has risen 62.48% since February 24, 2017 and is uptrending. It has outperformed by 45.78% the S&P500.

Analysts await Apple Inc. (NASDAQ:AAPL) to report earnings on May, 1. They expect $2.72 earnings per share, up 29.52% or $0.62 from last year’s $2.1 per share. AAPL’s profit will be $13.80 billion for 16.13 P/E if the $2.72 EPS becomes a reality. After $3.89 actual earnings per share reported by Apple Inc. for the previous quarter, Wall Street now forecasts -30.08% negative EPS growth.

Since August 24, 2017, it had 0 buys, and 5 selling transactions for $26.38 million activity. Riccio Daniel J. sold $2.65 million worth of stock or 15,641 shares. Shares for $948,612 were sold by Srouji Johny. COOK TIMOTHY D had sold 268,623 shares worth $43.15M on Thursday, August 24. $8.79M worth of stock was sold by SCHILLER PHILIP W on Tuesday, October 3.

Montag & Caldwell Llc, which manages about $14.22 billion and $3.25 billion US Long portfolio, upped its stake in Analog Devices Inc (NASDAQ:ADI) by 330,002 shares to 1.16 million shares, valued at $99.75M in 2017Q3, according to the filing. It also increased its holding in Mondelez International (NASDAQ:MDLZ) by 305,580 shares in the quarter, for a total of 2.55 million shares, and has risen its stake in Fleetcor Technologies Inc (NYSE:FLT).

Among 53 analysts covering Apple Inc. (NASDAQ:AAPL), 34 have Buy rating, 1 Sell and 18 Hold. Therefore 64% are positive. Apple Inc. had 378 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was initiated by Wells Fargo on Tuesday, November 14 with “Hold”. The rating was maintained by Cowen & Co with “Outperform” on Friday, October 21. The firm has “Buy” rating given on Friday, August 7 by Morgan Stanley. The firm has “Buy” rating given on Wednesday, August 2 by UBS. The firm has “Buy” rating given on Monday, October 9 by Bank of America. The stock of Apple Inc. (NASDAQ:AAPL) has “Buy” rating given on Wednesday, July 5 by Nomura. The rating was maintained by Mizuho on Wednesday, October 12 with “Buy”. The stock of Apple Inc. (NASDAQ:AAPL) earned “Overweight” rating by Barclays Capital on Monday, December 14. Bernstein maintained the shares of AAPL in report on Thursday, August 20 with “Buy” rating. On Wednesday, August 2 the stock rating was maintained by Deutsche Bank with “Hold”.

Investors sentiment increased to 0.7 in Q3 2017. Its up 0.02, from 0.68 in 2017Q2. It is positive, as 52 investors sold AAPL shares while 1034 reduced holdings. 116 funds opened positions while 640 raised stakes. 2.97 billion shares or 2.78% less from 3.06 billion shares in 2017Q2 were reported. Westfield Mgmt LP holds 2.5% in Apple Inc. (NASDAQ:AAPL) or 2.11M shares. Massachusetts-based Twin Focus Capital Ptnrs Llc has invested 0.73% in Apple Inc. (NASDAQ:AAPL). Bkd Wealth Advisors Ltd Liability Co holds 0.84% of its portfolio in Apple Inc. (NASDAQ:AAPL) for 49,370 shares. Mcf Advisors Limited Liability Corporation holds 0.4% of its portfolio in Apple Inc. (NASDAQ:AAPL) for 13,369 shares. Symphony Asset Mngmt Ltd Limited Liability Company holds 0.88% or 51,548 shares in its portfolio. Rfg Advisory Group Lc reported 1.43% in Apple Inc. (NASDAQ:AAPL). Ckw Finance Group owns 385 shares or 0.01% of their US portfolio. Hamel Associates has 3.79% invested in Apple Inc. (NASDAQ:AAPL) for 50,552 shares. Badgley Phelps & Bell invested in 1.91% or 167,766 shares. Boston Private Wealth Ltd Company reported 805,134 shares stake. At Savings Bank reported 34,984 shares. Denver Invest Advisors Ltd Liability invested 1.76% in Apple Inc. (NASDAQ:AAPL). Lyons Wealth Management Ltd Liability has 24.34% invested in Apple Inc. (NASDAQ:AAPL). Nomura owns 0.24% invested in Apple Inc. (NASDAQ:AAPL) for 728,671 shares. Livingston Grp Asset (Operating As Southport Cap Management) invested in 3.25% or 49,545 shares.

Investors sentiment decreased to 0.69 in 2017 Q3. Its down 0.10, from 0.79 in 2017Q2. It dropped, as 112 investors sold GE shares while 818 reduced holdings. 118 funds opened positions while 525 raised stakes. 4.70 billion shares or 1.82% more from 4.61 billion shares in 2017Q2 were reported. Birmingham Mngmt Al owns 2.68% invested in General Electric Company (NYSE:GE) for 278,851 shares. Old Dominion Capital Mgmt stated it has 0.54% of its portfolio in General Electric Company (NYSE:GE). 64,860 are held by Seabridge Invest Ltd Liability. Modera Wealth Management Ltd Com owns 67,572 shares. Stonehearth Capital Management Ltd accumulated 76,507 shares or 1.45% of the stock. Hilton Cap Mngmt Llc stated it has 0.08% in General Electric Company (NYSE:GE). Williams Jones And Assoc Lc holds 0.25% or 421,936 shares. Commonwealth Equity Services holds 0.76% of its portfolio in General Electric Company (NYSE:GE) for 5.26 million shares. Acropolis Investment Management Ltd stated it has 0.04% of its portfolio in General Electric Company (NYSE:GE). Clear Harbor Asset Mgmt Limited Liability holds 0.24% in General Electric Company (NYSE:GE) or 50,696 shares. Paradigm Mgmt New York has 0.02% invested in General Electric Company (NYSE:GE) for 8,400 shares. Garrison Bradford Associate invested 0.38% in General Electric Company (NYSE:GE). Halbert Hargrove Russell Limited has 0.1% invested in General Electric Company (NYSE:GE) for 14,762 shares. Hrt Limited Com holds 30,737 shares. Financial Management Incorporated reported 0.09% in General Electric Company (NYSE:GE).

Analysts await General Electric Company (NYSE:GE) to report earnings on April, 20. They expect $0.12 EPS, down 42.86% or $0.09 from last year’s $0.21 per share. GE’s profit will be $1.04 billion for 30.19 P/E if the $0.12 EPS becomes a reality. After $0.27 actual EPS reported by General Electric Company for the previous quarter, Wall Street now forecasts -55.56% negative EPS growth.

Among 28 analysts covering General Electric Company (NYSE:GE), 8 have Buy rating, 5 Sell and 15 Hold. Therefore 29% are positive. General Electric Company had 91 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Hold” rating by Oppenheimer on Monday, July 17. The rating was downgraded by Stifel Nicolaus to “Hold” on Tuesday, October 24. The stock of General Electric Company (NYSE:GE) earned “Equal-Weight” rating by Morgan Stanley on Thursday, October 6. The firm earned “Outperform” rating on Monday, April 24 by RBC Capital Markets. Oppenheimer downgraded General Electric Company (NYSE:GE) on Monday, September 21 to “Perform” rating. Deutsche Bank maintained the stock with “Sell” rating in Tuesday, November 21 report. The firm has “Hold” rating by Cowen & Co given on Monday, June 12. The rating was upgraded by Langenberg on Monday, November 13 to “Buy”. Stifel Nicolaus maintained the stock with “Buy” rating in Friday, July 7 report. The rating was maintained by Stifel Nicolaus on Tuesday, January 30 with “Hold”.

Old West Investment Management Llc, which manages about $207.40M and $190.43 million US Long portfolio, upped its stake in Enphase Energy Inc (NASDAQ:ENPH) by 575,453 shares to 1.62 million shares, valued at $2.46 million in 2017Q3, according to the filing. It also increased its holding in Intrepid Potash Inc (NYSE:IPI) by 158,256 shares in the quarter, for a total of 1.01 million shares, and has risen its stake in Western Union Co/The (NYSE:WU).

Since January 26, 2018, it had 1 insider purchase, and 0 sales for $43,446 activity.

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