Citigroup Inc. Increases Position in Keysight Technologies Inc. (NYSE:KEYS)

Key Points

• Citigroup Inc. increased its stake in Keysight Technologies Inc. by 37.0%, owning 1,095,914 shares valued at approximately $164.13 million as of the latest 13F filing.
• Other institutional investors, including Vanguard Group and Price T Rowe Associates, also boosted their positions in Keysight, with 84.58% of the stock held by institutional investors overall.
• Keysight Technologies reported a 7.4% increase in quarterly revenue year-over-year, reaching $1.32 billion, while beating earnings expectations with $1.70 EPS compared to a consensus estimate of $1.65.

Citigroup Inc. grew its stake in Keysight Technologies Inc. (NYSE:KEYS - Free Report) by 37.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,095,914 shares of the scientific and technical instruments company's stock after purchasing an additional 296,028 shares during the quarter. Citigroup Inc. owned about 0.63% of Keysight Technologies worth $164,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA boosted its position in Keysight Technologies by 39.9% in the first quarter. Private Trust Co. NA now owns 263 shares of the scientific and technical instruments company's stock worth $39,000 after purchasing an additional 75 shares during the last quarter. Principal Securities Inc. grew its position in Keysight Technologies by 9.1% in the first quarter. Principal Securities Inc. now owns 910 shares of the scientific and technical instruments company's stock worth $146,000 after acquiring an additional 76 shares in the last quarter. Haven Private LLC raised its position in Keysight Technologies by 2.1% during the first quarter. Haven Private LLC now owns 3,974 shares of the scientific and technical instruments company's stock valued at $595,000 after purchasing an additional 82 shares during the period. Pinnacle Bancorp Inc. lifted its stake in shares of Keysight Technologies by 14.2% in the 1st 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 during the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of Keysight Technologies by 4.8% during the 1st quarter. Integrated Advisors Network LLC now owns 1,847 shares of the scientific and technical instruments company's stock valued at $277,000 after purchasing an additional 85 shares during the last quarter. 84.58% of the stock is currently owned by hedge funds and other institutional investors.

Keysight Technologies Trading Up 1.2%

KEYS traded up $2.05 during trading hours on Wednesday, reaching $169.14. The company's stock had a trading volume of 507,116 shares, compared to its average volume of 969,137. The business's 50-day moving average is $162.87 and its 200-day moving average is $158.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.39 and a quick ratio of 2.75. The stock has a market cap of $29.11 billion, a PE ratio of 39.68, a P/E/G ratio of 2.28 and a beta of 1.11. Keysight Technologies Inc. has a fifty-two week low of $121.43 and a fifty-two week high of $186.20.

Keysight Technologies (NYSE:KEYS - Get Free Report) last posted 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. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Keysight Technologies had a return on equity of 19.65% and a net margin of 14.50%. Keysight Technologies's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. As a group, equities research analysts predict that Keysight Technologies Inc. will post 6.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley upped their target price on Keysight Technologies from $156.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Bank of America raised Keysight Technologies from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $170.00 to $175.00 in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on Keysight Technologies from $177.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $187.50.

Insider Transactions at Keysight Technologies

In other Keysight Technologies news, SVP John Page sold 7,368 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $157.78, for a total value of $1,162,523.04. Following the transaction, the senior vice president directly owned 36,986 shares in the company, valued at $5,835,651.08. This represents a 16.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Satish Dhanasekaran sold 658 shares of Keysight Technologies stock in a transaction 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 sale, the chief executive officer owned 115,576 shares in the company, valued at $18,235,581.28. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,830 shares of company stock valued at $5,124,049 over the last quarter. Insiders own 0.61% of the company's stock.

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.