Newport Trust Company LLC Decreases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Newport Trust Company LLC lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 13.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,360,477 shares of the company’s stock after selling 668,343 shares during the period. GE HealthCare Technologies accounts for approximately 0.9% of Newport Trust Company LLC’s investment portfolio, making the stock its 19th biggest position. Newport Trust Company LLC owned approximately 0.96% of GE HealthCare Technologies worth $337,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jennison Associates LLC raised its holdings in GE HealthCare Technologies by 49.4% in the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after acquiring an additional 399,961 shares during the last quarter. South Dakota Investment Council increased its position in GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after purchasing an additional 71,857 shares during the last quarter. Cerity Partners LLC raised its position in shares of GE HealthCare Technologies by 27.2% during the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after buying an additional 9,809 shares during the period. Fifth Third Bancorp increased its position in shares of GE HealthCare Technologies by 3.9% during the 4th quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock worth $2,600,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in GE HealthCare Technologies by 22.1% in the 4th quarter. Douglas Lane & Associates LLC now owns 436,253 shares of the company’s stock valued at $33,731,000 after buying an additional 79,073 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC traded down $0.11 during trading on Monday, hitting $81.75. 1,207,115 shares of the stock were exchanged, compared to its average volume of 3,294,716. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a market cap of $37.32 billion, a PE ratio of 23.94, a P/E/G ratio of 2.94 and a beta of 1.26. The company has a fifty day moving average price of $86.07 and a two-hundred day moving average price of $80.25. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research reports. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup boosted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. HSBC began coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Mizuho cut their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Morgan Stanley lifted their price target on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.80.

Insider Buying and Selling at GE HealthCare Technologies

In other news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jan Makela sold 66,955 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,165,395.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by corporate insiders.

About GE HealthCare Technologies

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.