Lord Abbett & CO. LLC Has $56.22 Million Stock Position in Keysight Technologies Inc. $KEYS

Key Points

• Lord Abbett & CO. LLC significantly increased its stake in Keysight Technologies by 163.4%, owning approximately 375,389 shares worth $56.2 million after purchasing 232,875 shares in Q1.
• Several major investors, including Vanguard Group Inc. and Price T Rowe Associates, have also raised their stakes in Keysight Technologies, which is primarily owned by institutional investors and hedge funds at 84.58%.
• Analysts have a consensus rating of "Moderate Buy" for Keysight Technologies, with target prices increasing from various firms, including JPMorgan and Bank of America.

Lord Abbett & CO. LLC grew its holdings in shares of Keysight Technologies Inc. (NYSE:KEYS - Free Report) by 163.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 375,389 shares of the scientific and technical instruments company's stock after buying an additional 232,875 shares during the quarter. Lord Abbett & CO. LLC owned 0.22% of Keysight Technologies worth $56,222,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KEYS. Kovitz Investment Group Partners LLC lifted its position in shares of Keysight Technologies by 364.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,652,311 shares of the scientific and technical instruments company's stock worth $747,301,000 after purchasing an additional 3,650,953 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Keysight Technologies by 29.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,114,952 shares of the scientific and technical instruments company's stock worth $2,588,546,000 after purchasing an additional 3,621,349 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Keysight Technologies by 1,224.5% during the first quarter. Victory Capital Management Inc. now owns 1,991,884 shares of the scientific and technical instruments company's stock worth $298,324,000 after purchasing an additional 1,841,494 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Keysight Technologies by 343.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,008,192 shares of the scientific and technical instruments company's stock worth $161,946,000 after purchasing an additional 780,893 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Keysight Technologies by 36,268.6% during the first quarter. GAMMA Investing LLC now owns 750,647 shares of the scientific and technical instruments company's stock worth $112,424,000 after purchasing an additional 748,583 shares in the last quarter. 84.58% of the stock is currently owned by hedge funds and other institutional investors.

Keysight Technologies Stock Performance

KEYS stock traded down $1.12 during midday trading on Friday, hitting $163.36. The stock had a trading volume of 1,061,160 shares, compared to its average volume of 814,570. The firm has a market capitalization of $28.12 billion, a price-to-earnings ratio of 38.35, a P/E/G ratio of 2.31 and a beta of 1.11. Keysight Technologies Inc. has a 52 week low of $121.43 and a 52 week high of $186.20. The stock has a 50-day simple moving average of $163.18 and a 200 day simple moving average of $158.47. The company has a current ratio of 3.39, a quick ratio of 2.75 and a debt-to-equity ratio of 0.46.

Keysight Technologies (NYSE:KEYS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The scientific and technical instruments company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.05. The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.28 billion. Keysight Technologies had a return on equity of 19.65% and a net margin of 14.50%. The business's revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $1.41 earnings per share. As a group, equities research analysts anticipate that Keysight Technologies Inc. will post 6.32 earnings per share for the current year.

Insider Activity

In other news, CFO Neil Dougherty sold 12,215 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $164.60, for a total transaction of $2,010,589.00. Following the sale, the chief financial officer owned 115,228 shares in the company, valued at $18,966,528.80. This represents a 9.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard P. Hamada sold 1,589 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $162.00, for a total value of $257,418.00. Following the sale, the director owned 42,160 shares in the company, valued at approximately $6,829,920. This represents a 3.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,830 shares of company stock worth $5,124,049. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KEYS shares. Bank of America raised shares of Keysight Technologies from an "underperform" rating to a "neutral" rating and upped their price target for the company from $170.00 to $175.00 in a report on Monday, July 21st. Morgan Stanley upped their price target on shares of Keysight Technologies from $156.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Keysight Technologies from $177.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Keysight Technologies has a consensus 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.