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

Terra Nova Asset Management LLC purchased a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 14,461 shares of the conglomerate’s stock, valued at approximately $1,846,000. General Electric makes up 1.6% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in shares of General Electric by 10.0% during the 1st quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock worth $27,925,000 after purchasing an additional 27,682 shares in the last quarter. Prudential PLC acquired a new stake in shares of General Electric in the 1st quarter valued at $1,518,000. Sequoia Financial Advisors LLC increased its stake in shares of General Electric by 2.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after buying an additional 334 shares during the period. Merit Financial Group LLC acquired a new stake in shares of General Electric during the first quarter worth $388,000. Finally, West Family Investments Inc. acquired a new stake in shares of General Electric during the first quarter worth $230,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Down 2.6 %

Shares of GE stock opened at $175.47 on Friday. The company has a market cap of $191.84 billion, a P/E ratio of 20.96, a PEG ratio of 2.41 and a beta of 1.28. The stock has a 50 day simple moving average of $151.58 and a two-hundred day simple moving average of $129.37. 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 fifty-two week low of $93.47 and a fifty-two week high of $180.36.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. The firm had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. Research analysts forecast that General Electric will post 4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upgraded General Electric from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $166.00 to $180.00 in a report on Friday, March 8th. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada raised their price target on General Electric from $148.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company lifted their target price on General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $150.54.

Insider Activity

In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on 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 owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.