Chevy Chase Trust Holdings LLC Acquires 13,061 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Chevy Chase Trust Holdings LLC grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.6% in the third quarter, HoldingsChannel.com reports. The fund owned 245,869 shares of the company’s stock after purchasing an additional 13,061 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in GE HealthCare Technologies were worth $23,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GEHC. D1 Capital Partners L.P. bought a new stake in GE HealthCare Technologies during the third quarter valued at approximately $268,159,000. Van ECK Associates Corp purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $208,513,000. Massachusetts Financial Services Co. MA bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $93,713,000. Marshall Wace LLP purchased a new position in GE HealthCare Technologies in the second quarter worth $63,639,000. Finally, International Assets Investment Management LLC increased its stake in GE HealthCare Technologies by 10,227.3% in the third quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after acquiring an additional 615,891 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GEHC. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Price Performance

GEHC opened at $82.57 on Wednesday. The stock’s 50 day moving average price is $87.62 and its 200-day moving average price is $83.67. GE HealthCare Technologies Inc. has a 52-week low of $67.00 and a 52-week high of $94.55. The stock has a market capitalization of $37.72 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 2.97 and a beta of 1.07. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the company posted $0.99 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. 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 3.30%.

GE HealthCare Technologies 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.