Jensen Investment Management Inc. Reduces Stake in Keysight Technologies Inc. (NYSE:KEYS)

Key Points

• Jensen Investment Management Inc. reduced its stake in Keysight Technologies Inc. by 13.4%, now holding 33,800 shares worth approximately $5.06 million.
• Multiple institutional investors, including Central Pacific Bank Trust Division and Manchester Capital Management LLC, have significantly increased their positions in Keysight Technologies in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with price targets being raised to as high as $200.00 from various firms, reflecting optimism about the company's future performance.

Jensen Investment Management Inc. reduced its position in Keysight Technologies Inc. (NYSE:KEYS - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,800 shares of the scientific and technical instruments company's stock after selling 5,210 shares during the period. Jensen Investment Management Inc.'s holdings in Keysight Technologies were worth $5,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KEYS. Central Pacific Bank Trust Division lifted its position in Keysight Technologies by 97.8% during 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 purchasing an additional 90 shares in the last quarter. Accent Capital Management LLC purchased a new position in Keysight Technologies during the first quarter valued at $28,000. Manchester Capital Management LLC lifted its position in Keysight Technologies by 85.0% during the first quarter. Manchester Capital Management LLC now owns 235 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 108 shares in the last quarter. Private Trust Co. NA lifted its position in 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 valued at $39,000 after purchasing an additional 75 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Keysight Technologies by 241.8% during the fourth quarter. Sunbelt Securities Inc. now owns 270 shares of the scientific and technical instruments company's stock valued at $44,000 after purchasing an additional 191 shares in the last quarter. 84.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KEYS shares. JPMorgan Chase & Co. raised their price target on Keysight Technologies from $177.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Morgan Stanley raised their price target on Keysight Technologies from $156.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Finally, Bank of America raised Keysight Technologies from an "underperform" rating to a "neutral" rating and raised their price target for the company from $170.00 to $175.00 in a report on Monday, July 21st. One 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 has an average rating of "Moderate Buy" and an average price target of $187.50.

Insider Transactions at Keysight Technologies

In related news, SVP Ingrid A. Estrada sold 10,000 shares of Keysight Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $158.97, for a total value of $1,589,700.00. Following the completion of the transaction, the senior vice president owned 108,590 shares in the company, valued at approximately $17,262,552.30. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Neil Dougherty sold 12,215 shares of Keysight Technologies stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $164.60, for a total value of $2,010,589.00. Following the completion of the transaction, the chief financial officer owned 115,228 shares of the company's stock, valued at approximately $18,966,528.80. This represents a 9.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,830 shares of company stock valued at $5,124,049. 0.61% of the stock is owned by insiders.

Keysight Technologies Price Performance

Shares of KEYS stock traded up $3.73 during trading hours on Friday, hitting $164.98. The stock had a trading volume of 715,553 shares, compared to its average volume of 775,944. Keysight Technologies Inc. has a one year low of $121.43 and a one year high of $186.20. 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's 50-day moving average price is $162.68 and its two-hundred day moving average price is $158.72. The stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.33 and a beta of 1.11.

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 return on equity of 19.65% and a net margin of 14.50%. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. Equities analysts forecast that Keysight Technologies Inc. will post 6.32 EPS for the current year.

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.