ZWJ Investment Counsel Inc. Cuts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

ZWJ Investment Counsel Inc. trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 35.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,015 shares of the company’s stock after selling 2,236 shares during the period. ZWJ Investment Counsel Inc.’s holdings in GE HealthCare Technologies were worth $314,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LGT Financial Advisors LLC raised its stake in shares of 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 buying an additional 251 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies during the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GEHC stock opened at $87.34 on Wednesday. GE HealthCare Technologies Inc. has a 52-week low of $71.31 and a 52-week high of $94.55. The stock’s fifty day simple moving average is $82.02 and its 200-day simple moving average is $84.56. 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 stock has a market capitalization of $39.90 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.87 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus upped their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI upped their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the 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 transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

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.