Bank of Nova Scotia Has $2.71 Million Stock Holdings in Keysight Technologies Inc. (NYSE:KEYS)

Key Points

• Bank of Nova Scotia reduced its stake in Keysight Technologies Inc. by 21.8% in the first quarter, holding 18,107 shares worth approximately $2.71 million after selling 5,058 shares.
• Keysight Technologies reported earnings of $1.70 per share for the last quarter, exceeding analysts' expectations by $0.05, with revenues growing 7.4% year-over-year.
• Several analysts, including those from JPMorgan Chase and Morgan Stanley, have upgraded their price targets for Keysight Technologies, reflecting a consensus rating of "Moderate Buy" with an average target price of $187.50.

Bank of Nova Scotia reduced its position in shares of Keysight Technologies Inc. (NYSE:KEYS - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,107 shares of the scientific and technical instruments company's stock after selling 5,058 shares during the period. Bank of Nova Scotia's holdings in Keysight Technologies were worth $2,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in shares of Keysight Technologies by 39.9% during the first quarter. Private Trust Co. NA now owns 263 shares of the scientific and technical instruments company's stock worth $39,000 after buying an additional 75 shares in the last quarter. Principal Securities Inc. increased its holdings in Keysight Technologies by 9.1% in the 1st quarter. Principal Securities Inc. now owns 910 shares of the scientific and technical instruments company's stock worth $146,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Bancorp Inc. boosted its stake in shares of Keysight Technologies by 14.2% during the first quarter. Pinnacle Bancorp Inc. now owns 669 shares of the scientific and technical instruments company's stock valued at $100,000 after purchasing an additional 83 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Keysight Technologies by 4.8% during the first quarter. Integrated Advisors Network LLC now owns 1,847 shares of the scientific and technical instruments company's stock worth $277,000 after purchasing an additional 85 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its stake in shares of Keysight Technologies by 97.8% in the first quarter. Central Pacific Bank Trust Division now owns 182 shares of the scientific and technical instruments company's stock valued at $27,000 after buying an additional 90 shares during the period. 84.58% of the stock is currently owned by institutional investors.

Keysight Technologies Price Performance

KEYS stock opened at $160.69 on Thursday. The firm has a market cap of $27.66 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 2.17 and a beta of 1.11. The company has a quick ratio of 2.75, a current ratio of 3.39 and a debt-to-equity ratio of 0.46. The company's fifty day simple moving average is $162.47 and its 200 day simple moving average is $158.89. Keysight Technologies Inc. has a 12-month low of $119.72 and a 12-month high of $186.20.

Keysight Technologies (NYSE:KEYS - Get Free Report) last issued its earnings results on Tuesday, May 20th. The scientific and technical instruments company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. Keysight Technologies had a net margin of 14.50% and a return on equity of 19.65%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. Keysight Technologies's revenue was up 7.4% on a year-over-year basis. On average, analysts expect that Keysight Technologies Inc. will post 6.32 earnings per share for the current year.

Insider Activity

In other news, CEO Satish Dhanasekaran sold 658 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $157.78, for a total transaction of $103,819.24. Following the transaction, the chief executive officer directly owned 115,576 shares of the company's stock, valued at $18,235,581.28. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard P. Hamada sold 1,589 shares of Keysight Technologies stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $162.00, for a total transaction of $257,418.00. Following the completion of the sale, the director directly owned 42,160 shares of the company's stock, valued at approximately $6,829,920. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,830 shares of company stock valued at $5,124,049. Corporate insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

KEYS has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Keysight Technologies from $156.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. increased their price objective on Keysight Technologies from $177.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Bank of America raised Keysight Technologies from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $170.00 to $175.00 in a report on Monday, July 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $187.50.

Keysight Technologies Company Profile

Keysight Technologies, Inc provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, electronic, and education industries in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Communications Solutions Group and Electronic Industrial Solutions Group.

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