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

Private Trust Co. NA trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.3% during the third quarter, HoldingsChannel.com reports. The fund owned 2,266 shares of the company’s stock after selling 127 shares during the period. Private Trust Co. NA’s holdings in GE HealthCare Technologies were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth about $25,000. LGT Financial Advisors LLC lifted its position in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the period. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies in the second quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth $26,000. Finally, Ashton Thomas Securities LLC purchased a new position in GE HealthCare Technologies in the 3rd quarter valued at $26,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI raised their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.36.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $83.00 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm’s 50-day simple moving average is $88.07 and its 200 day simple moving average is $83.61. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55. The firm has a market capitalization of $37.92 billion, a PE ratio of 22.80, a P/E/G ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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 for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the business earned $0.99 earnings per share. The business’s revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. GE HealthCare Technologies’s payout ratio is 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.