Terra Nova Asset Management LLC Takes Position in General Electric (NYSE:GE)

Terra Nova Asset Management LLC acquired a new stake in General Electric (NYSE:GE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 14,461 shares of the conglomerate’s stock, valued at approximately $1,846,000. General Electric makes up approximately 1.6% of Terra Nova Asset Management LLC’s holdings, making the stock its 27th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its holdings in General Electric by 7.2% during the 4th quarter. Ritholtz Wealth Management now owns 18,058 shares of the conglomerate’s stock worth $2,305,000 after purchasing an additional 1,217 shares in the last quarter. Successful Portfolios LLC increased its position in shares of General Electric by 6.1% in the fourth quarter. Successful Portfolios LLC now owns 2,475 shares of the conglomerate’s stock valued at $316,000 after acquiring an additional 143 shares during the last quarter. MJP Associates Inc. ADV acquired a new stake in shares of General Electric in the fourth quarter valued at about $216,000. Investment Research & Advisory Group Inc. increased its position in shares of General Electric by 5.8% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 13,769 shares of the conglomerate’s stock valued at $1,757,000 after acquiring an additional 758 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. acquired a new stake in shares of General Electric in the fourth quarter valued at about $208,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 2.6 %

Shares of NYSE:GE opened at $175.47 on Friday. The company has a fifty day moving average of $151.58 and a 200-day moving average of $129.37. The company has a market capitalization of $191.84 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. General Electric has a 52-week low of $93.47 and a 52-week high of $180.36.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. On average, equities analysts predict that General Electric will post 4.57 EPS for the current fiscal year.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. Jefferies Financial Group lifted their price target on General Electric from $180.00 to $195.00 in a report on Monday, March 11th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Citigroup boosted their price objective on General Electric from $135.00 to $148.00 and gave the stock a “buy” rating in a report on Monday, December 11th. JPMorgan Chase & Co. upgraded General Electric from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $166.00 to $180.00 in a report on Friday, March 8th. Finally, Wells Fargo & Company boosted their price target on General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.54.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.