As General Electric Co (GE) Stock Value Declined, Sterneck Capital Management Has Raised by $487,370 Its Position; As Seagate Technology Plc (STX) Share Value Declined, Gateway Advisory Has Lowered Stake

September 14, 2018 - By Jimmy Cauthen

General Electric Company (NYSE:GE) Logo

Gateway Advisory Llc decreased its stake in Seagate Technology Plc (STX) by 24.63% based on its latest 2018Q2 regulatory filing with the SEC. Gateway Advisory Llc sold 8,045 shares as the company’s stock declined 13.13% while stock markets rallied. The institutional investor held 24,622 shares of the electronic components company at the end of 2018Q2, valued at $1.39 million, down from 32,667 at the end of the previous reported quarter. Gateway Advisory Llc who had been investing in Seagate Technology Plc for a number of months, seems to be less bullish one the $13.79B market cap company. The stock decreased 0.39% or $0.19 during the last trading session, reaching $48.02. About 1.10M shares traded. Seagate Technology plc (NASDAQ:STX) has risen 55.13% since September 14, 2017 and is uptrending. It has outperformed by 39.51% the S&P500. Some Historical STX News: 01/05/2018 – SEAGATE 3Q ADJ EPS $1.46, EST. $1.33; 01/05/2018 – Seagate 3Q Rev $2.8B; 25/05/2018 – Seagate and HTC VIVE Jointly Announce VR Power Drive to Create a New VR Experience; 20/03/2018 – Seagate to Demonstrate Advanced Technology at OCP Summit 2018 to Support Accelerated Hyperscale Demand and Data Growth; 18/04/2018 – Luxury Lifestyle Awards Praises Rixos Seagate Sharm Resort for Excellence in Service; 23/03/2018 – ACE Data Group Unveils New Technology for Hardware Encrypted SSDs Based on Seagate Technology’s SandForce Controllers

Sterneck Capital Management Llc increased its stake in General Electric Co (GE) by 18745% based on its latest 2018Q2 regulatory filing with the SEC. Sterneck Capital Management Llc bought 37,490 shares as the company’s stock declined 9.22% while stock markets rallied. The institutional investor held 37,690 shares of the consumer electronics and appliances company at the end of 2018Q2, valued at $513,000, up from 200 at the end of the previous reported quarter. Sterneck Capital Management Llc who had been investing in General Electric Co for a number of months, seems to be bullish on the $107.90 billion market cap company. The stock decreased 1.39% or $0.175 during the last trading session, reaching $12.415. About 17.34M shares traded. General Electric Company (NYSE:GE) has declined 47.26% since September 14, 2017 and is downtrending. It has underperformed by 62.88% the S&P500. Some Historical GE News: 23/05/2018 – Blackbaud World Headquarters Showcases the Future of Intelligent Lighting for Commercial Offices; 27/03/2018 – ENERGA TO BACK GE-ALSTOM BID FOR OSTROLEKA POWER PROJECT; 25/04/2018 – GE Investors Gather After a Difficult Year; 03/05/2018 – GENERAL ELECTRIC: GE POWER NAMES TOP GLOBAL ENERGY EXECUTIVE RO; 20/04/2018 – Is GE’s Bounceback for Real? — Barrons.com; 24/04/2018 – Lowe’s and GE Lighting Expand Partnership to Differentiate Light Bulb Offering; 16/04/2018 – VINETI SAYS CLOSING OF $33.5 MLN IN SERIES B INVESTMENT; FINANCING IS BEING LED BY CANAAN AND DFJ WITH PARTICIPATION FROM GE VENTURES AMONG OTHERS; 20/04/2018 – GE sets aside $1.5 billion for investigation settlement after talks with the Justice Department; 07/03/2018 – GE REPORTS INNOVATIVE ENERGY STORAGE PLATFORM CALLED RESERVOIR; 04/05/2018 – Warren Buffett says he is not looking to buy General Electric

Sterneck Capital Management Llc, which manages about $314.88 million and $144.51 million US Long portfolio, decreased its stake in Qualcomm Inc (NASDAQ:QCOM) by 12,152 shares to 40,838 shares, valued at $2.29M in 2018Q2, according to the filing. It also reduced its holding in Franks Intl N V (NYSE:FI) by 110,640 shares in the quarter, leaving it with 167,510 shares, and cut its stake in Spdr Series Trust (THRK).

Among 29 analysts covering General Electric Company (NYSE:GE), 8 have Buy rating, 4 Sell and 17 Hold. Therefore 28% are positive. General Electric Company had 111 analyst reports since July 21, 2015 according to SRatingsIntel. Vertical Research maintained the shares of GE in report on Tuesday, January 16 with “Hold” rating. The firm has “Sell” rating by J.P. Morgan given on Monday, April 9. The rating was maintained by Bernstein with “Market Perform” on Tuesday, July 26. Deutsche Bank maintained General Electric Company (NYSE:GE) on Monday, September 11 with “Sell” rating. Deutsche Bank downgraded General Electric Company (NYSE:GE) on Friday, May 12 to “Sell” rating. The rating was maintained by Tigress Financial with “Hold” on Thursday, January 4. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, January 25. The firm has “Neutral” rating by Bank of America given on Wednesday, April 26. The stock of General Electric Company (NYSE:GE) earned “Equal-Weight” rating by Morgan Stanley on Thursday, October 6. UBS initiated it with “Hold” rating and $17.0 target in Tuesday, January 23 report.

More notable recent General Electric Company (NYSE:GE) news were published by: Seekingalpha.com which released: “GE: Building A Base, Upside Potential Roughly 50%” on August 29, 2018, also Seekingalpha.com with their article: “General Electric Is A Wait And Watch Story – Cramer’s Lightning Round (9/13/18)” published on September 14, 2018, Fool.com published: “This Surprising Sign Points to GE Coming Out on Top” on September 05, 2018. More interesting news about General Electric Company (NYSE:GE) were released by: Bizjournals.com and their article: “GE to sell aircraft parts maker to Singapore firm for $630M” published on September 13, 2018 as well as Seekingalpha.com‘s news article titled: “General Electric: What Is Causing These Declines?” with publication date: August 27, 2018.

Since July 24, 2018, it had 1 buy, and 0 sales for $2.49 million activity.

Investors sentiment increased to 0.59 in 2018 Q2. Its up 0.04, from 0.55 in 2018Q1. It increased, as 95 investors sold GE shares while 758 reduced holdings. 122 funds opened positions while 381 raised stakes. 4.51 billion shares or 0.71% less from 4.54 billion shares in 2018Q1 were reported. Roof Eidam & Maycock Adv invested 0.21% of its portfolio in General Electric Company (NYSE:GE). Howe & Rusling Incorporated, New York-based fund reported 86,451 shares. Joel Isaacson Co Llc owns 78,579 shares. Farmers Trust Co holds 1.69% or 410,590 shares in its portfolio. Homrich And Berg invested in 71,997 shares. Obermeyer Wood Inv Counsel Lllp, Colorado-based fund reported 18,648 shares. Douglass Winthrop Advsr Limited Liability Corp stated it has 0.15% in General Electric Company (NYSE:GE). Troy Asset Management holds 0% or 560 shares in its portfolio. Semper Augustus Invs Grp Incorporated Limited Liability stated it has 119,515 shares or 1.02% of all its holdings. Miller Investment Mgmt Limited Partnership has 10,000 shares for 0.04% of their portfolio. Benedict Fincl Inc stated it has 19,586 shares. Thompson Investment Management Inc reported 858,191 shares. 12,331 were accumulated by Weiss Asset Mgmt L P. Cardinal Cap Management, North Carolina-based fund reported 324,870 shares. Intact Inv Mgmt accumulated 123,100 shares or 0.06% of the stock.

Since April 2, 2018, it had 2 insider buys, and 10 insider sales for $34.00 million activity. On Tuesday, August 14 ValueAct Holdings – L.P. bought $49.22M worth of Seagate Technology plc (NASDAQ:STX) or 931,882 shares. Nygaard Jeffrey D. also sold $125,701 worth of Seagate Technology plc (NASDAQ:STX) shares. The insider MURPHY JAMES J sold $28,809. Scolnick Kathryn R. had sold 10,577 shares worth $561,850. ZANDER EDWARD J sold $1.35M worth of Seagate Technology plc (NASDAQ:STX) on Wednesday, May 9.

Among 36 analysts covering Seagate Technology Plc (NASDAQ:STX), 10 have Buy rating, 5 Sell and 21 Hold. Therefore 28% are positive. Seagate Technology Plc had 147 analyst reports since August 4, 2015 according to SRatingsIntel. The company was maintained on Tuesday, August 16 by Barclays Capital. The rating was downgraded by Craig Hallum on Wednesday, July 26 to “Hold”. The rating was maintained by BMO Capital Markets on Thursday, August 20 with “Market Perform”. The stock of Seagate Technology plc (NASDAQ:STX) has “Buy” rating given on Monday, August 3 by Brean Capital. The firm has “Underweight” rating given on Tuesday, March 27 by Barclays Capital. The stock of Seagate Technology plc (NASDAQ:STX) earned “Hold” rating by Jefferies on Friday, October 13. Argus Research downgraded Seagate Technology plc (NASDAQ:STX) on Friday, April 15 to “Hold” rating. Morgan Stanley upgraded Seagate Technology plc (NASDAQ:STX) on Monday, April 9 to “Buy” rating. The firm has “Hold” rating by Mizuho given on Sunday, October 8. The firm has “Market Perform” rating by Cowen & Co given on Friday, April 29.

Analysts await Seagate Technology plc (NASDAQ:STX) to report earnings on October, 22. They expect $1.55 earnings per share, up 61.46% or $0.59 from last year’s $0.96 per share. STX’s profit will be $445.15M for 7.75 P/E if the $1.55 EPS becomes a reality. After $1.62 actual earnings per share reported by Seagate Technology plc for the previous quarter, Wall Street now forecasts -4.32% negative EPS growth.

More news for Seagate Technology plc (NASDAQ:STX) were recently published by: Finance.Yahoo.com, which released: “The Selloff of Western Digital Stock May Not Be Over” on September 14, 2018. Benzinga.com‘s article titled: “Evercore Turns Bearish On Seagate Due To Limited Upside” and published on September 04, 2018 is yet another important article.

General Electric Company (NYSE:GE) Institutional Positions Chart

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