14,461 Shares in General Electric (NYSE:GE) Bought by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC bought a new position in shares of General Electric (NYSE:GE) in the fourth quarter, HoldingsChannel reports. The firm bought 14,461 shares of the conglomerate’s stock, valued at approximately $1,846,000. General Electric comprises about 1.6% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of General Electric by 4.4% during the second quarter. BlackRock Inc. now owns 70,480,887 shares of the conglomerate’s stock worth $7,742,325,000 after acquiring an additional 2,974,946 shares during the last quarter. State Street Corp lifted its position in General Electric by 3.5% during the second quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock valued at $5,515,327,000 after purchasing an additional 1,717,793 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in General Electric by 122,242.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after purchasing an additional 13,427,079 shares during the last quarter. Northern Trust Corp lifted its position in General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after purchasing an additional 410,061 shares during the last quarter. Finally, Morgan Stanley lifted its position in General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after purchasing an additional 434,736 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 2.6 %

NYSE:GE opened at $175.47 on Friday. General Electric has a fifty-two week low of $93.47 and a fifty-two week high of $180.36. The stock has a market capitalization of $191.84 billion, a P/E ratio of 20.96, a P/E/G 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. The company’s 50-day simple moving average is $151.58 and its 200-day simple moving average is $129.37.

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

Analyst Ratings Changes

Several equities analysts have commented on GE shares. Jefferies Financial Group increased their price objective on shares of General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Wells Fargo & Company increased their target price on shares of General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup increased their target price on shares of General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised shares of General Electric from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $166.00 to $180.00 in a research note on Friday, March 8th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.54.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred 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 disclosure for this sale can be found here. Company 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.