Private Trust Co. NA Trims Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Private Trust Co. NA reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,266 shares of the company’s stock after selling 127 shares during the quarter. Private Trust Co. NA’s holdings in GE HealthCare Technologies were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GEHC. Charles Schwab Investment Management Inc. raised its stake in GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares during the period. Van ECK Associates Corp acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $208,513,000. Swiss National Bank raised its position in shares of GE HealthCare Technologies by 0.5% during the 3rd quarter. Swiss National Bank now owns 1,287,187 shares of the company’s stock valued at $120,802,000 after buying an additional 6,500 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in GE HealthCare Technologies by 18.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after acquiring an additional 189,956 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in GE HealthCare Technologies by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock worth $95,952,000 after acquiring an additional 23,448 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEHC. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Trading Up 0.6 %

NASDAQ:GEHC opened at $83.00 on Friday. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The firm has a market cap of $37.92 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $88.07 and a 200 day moving average price of $83.61.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the business posted $0.99 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.