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James Barrow Chops Holding of GE, ITT, More

November 12, 2013 | About:
Sally Jones

Sally Jones

49 followers
Changes in the third quarter portfolio of Barrow, Hanley, Mewhinney & Strauss, led by Guru James Barrow, include 24 reductions and sells combined, including high-impact decreases of his positions in General Electric Co. (GE), ITT Corp. (ITT) and the selling of Spectra Energy Corp. (SE), among many others. James Barrow’s updated portfolio lists 163 stocks, four of them new, and a total value at $62.5 billion. The quarter-over-quarter turnover is 6%. Barrow’s portfolio is weighted with financial services at 23.7%, health care at 17.8% and technology at 15.7%. He is averaging a return of 19.17% over 12 months.

Here’s a look at Barrow’s third quarter selling highlights and the latest company earnings.

General Electric Co. (GE): Reduced

Impacts Portfolio: -1.04%

Up 31% over 12 months, General Electric Co. has a market cap of $273.37 billion; its shares trade with a P/E ratio of 15.60. The dividend yield is 2.80%.

Company Earnings: The company reported financial results for the third quarter of 2013 with operating earnings down 3% at $3.7 billion. Earnings of $0.36 per share were reported as flat with the same quarter of 2012.

Guru Action: As of Sept. 30, 2013, James Barrow reduced his position by 80.07%, selling 26,506,437 shares at an average price of $23.93 per share, gaining 12.9%. His current shares are 6,595,590.

The current share price is around $27.02, with a change from average up 13%.

Across a five-year history, James Barrow averaged a gain of 50% buying 45,137,113 shares at an average price of $18.07. Selling, he averaged a gain of 18% on 50,167,123 shares at an average price of $22.87 per share.

Check out the active gurus in the second and third quarters of 2013, and very little recent insider trading.

Track historical pricing, revenue and net income:

1384294392849.png

Spectra Energy Corp. (SE): Sold Out

Impacts Portfolio: -0.72%

Up 26% over 12 months, Spectra Energy Corp., a midstream oil and gas company, has a market cap of $22.9 billion; its shares trade with a P/E ratio of 24.30. The dividend yield is 3.60%.

Company Earnings: The company reported financial results for the third quarter of 2013 with a net income of $283 million for the quarter, up from $179 million in the same quarter of 2012. Earnings of $0.42 per diluted share were also up, compared to $0.27 in the year-ago quarter.

Guru Action: As of Sept. 30, 2013, James Barrow sold out his SE holding. He sold 12,487,411 shares at an average price of $34.55 per share, losing 1.1%, his first loss in five years of pure gains.

The current share price is around $34.18, with a change from average down 1%.

James Barrow’s highest gains of 101.2%, 141.6% and 118.4% were in the fourth quarter of 2008 and the first and second quarters of 2009, respectively.

Numerous gurus hold SE and there is very active insider selling.

Track historical pricing, revenue and net income:

1384294704885.png

ITT Corp. (ITT): Reduced

Impacts Portfolio: -0.35%

Up 90% over 12 months, ITT Corp., a manufacturer of engineered components and industrial solutions, has a market cap of $3.72 billion; its shares trade with a P/E ratio of 25.20. The dividend yield is 1.00%.

Company Earnings: The company reported financial results for the third quarter of 2013 with revenue of $624 million, up 16%. ITT reported GAAP earnings of $4.71 per share for the quarter, with adjusted earnings from continuing operations up by 23% at $0.54 per share.

Guru Action: As of Sept. 30, 2013, James Barrow reduced his position by 94.64%, selling 7,018,403 shares at an average price of $33.33 per share, gaining 23.1%. His current shares are 397,727.

The current share price is around $41.02, with a change from average up 23%.

Across a five-year history, James Barrow averaged a gain of 101% buying 2,431,665 shares at an average price of $20.45 per share. Barrow averaged a gain of 30% on 8,016,828 shares sold at an average price of $31.50 per share.

Numerous gurus hold ITT and there is very active insider trading for 2013.

Track historical pricing, revenue and net income:

1384295190735.png

Check out the complete portfolio update of James Barrow.



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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 4.5/5 (2 votes)

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