Business

Could Portland General Electric Company (POR) Go Down After Achieving All-Time High?

Could Portland General Electric Company (POR) Go Down After Achieving All-Time High?

Three weeks after General Electric new chief executive said it needed to make "some major changes with urgency", the engineering conglomerate has done just that. Among active positions in the latest quarter, 830 holders increased their positions by a total of 221.13 million shares, 1,180 holders decreased the positions by a total of 233.24 million shares, and 157 holders held their positions. RBC Capital Markets maintained the shares of GE in report on Monday, November 30 with "Outperform" rating.

Other hedge funds also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. acquired a new position in General Electric during the 1st quarter worth approximately $106,000. Its stake was valued at $26,146,000 an increase of $1,854,000 as of quarter end.

The dividend cut is only GE's second since the Great Depression and continues new CEO John Flannery's push to aggressively confront the challenges facing the company. Peak Financial Management Inc. raised its position in General Electric by 0.3% in the 2nd quarter. Concert Wealth Management Inc invested 0.65% of its portfolio in General Electric Company (NYSE:GE). Private Trust Co acquired 15,290 shares as General Electric Co. The stock has a market capitalization of $177,777.73, a price-to-earnings ratio of 16.53, a PEG ratio of 2.15 and a beta of 1.11. Cutter & CO Brokerage Inc. raised its position in General Electric by 0.3% during the 2nd quarter.

"The company's unrealistic earning guidance and its outstretched dividend are now gone; soon Flannery may wield a scalpel to underperforming divisions, or those that fit better in the portfolio of a private equity buyer", Forbes said.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 21st. Many companies are increasing them because the US economy is healthy and the stock market is booming. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. Blackrock Inc invested in 1.50 million shares or 0% of the stock.

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Investors have made it known over the past two years that they prefer companies that reinvest in their own core businesses, rather than spend excess capital on dividend payments and share buybacks. Shares had slumped about 35% this year before Monday's slide. The ex-dividend date is Thursday, December 22nd. Pillar Pacific Cap Mngmt Ltd Liability Corp reported 0.14% in General Electric Company (NYSE:GE). If you are viewing this piece on another domain, it was illegally copied and reposted in violation of worldwide trademark and copyright laws. Stevens Cap Management Limited Partnership, Pennsylvania-based fund reported 5,753 shares. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Baker Hughes is majority-owned by GE and was only formed previous year by combining the two companies' oil and gas businesses. Citigroup initiated the shares of GE in report on Thursday, January 21 with "Buy" rating.

The analyst said his earnings estimates and price target for General Electric are under review. JPMorgan Chase & Co. reissued an "underweight" rating on shares of General Electric in a report on Tuesday, November 15th.

Inch reiterated his sell rating and $18 price target for General Electric shares. Ladenburg maintained it with "Buy" rating and $48.0 target in Tuesday, September 19 report.

Recent insider trends for General Electric Company (NYSE:GE) have caught the attention of investors. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock.


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