Primecap Management Co. CA Sells 252,450 Shares of Agilent Technologies, Inc. (NYSE:A)

Key Points

• Primecap Management Co. CA reduced its holdings in Agilent Technologies by 14.1%, selling 252,450 shares and now owning 1,537,211 shares worth approximately $179.82 million.
• Agilent Technologies reported earnings per share (EPS) of $1.31 for the most recent quarter, exceeding estimates and representing a 6% year-over-year revenue increase to $1.67 billion.
• The company announced a quarterly dividend of $0.248, yielding 0.9%, with a payout ratio of 24.44% for its shareholders.

Primecap Management Co. CA decreased its position in shares of Agilent Technologies, Inc. (NYSE:A - Free Report) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,537,211 shares of the medical research company's stock after selling 252,450 shares during the period. Primecap Management Co. CA owned about 0.54% of Agilent Technologies worth $179,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Agilent Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 33,408,626 shares of the medical research company's stock worth $3,908,141,000 after acquiring an additional 240,965 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Agilent Technologies by 2.5% in the first quarter. Pictet Asset Management Holding SA now owns 5,341,870 shares of the medical research company's stock worth $624,888,000 after purchasing an additional 128,131 shares in the last quarter. Deutsche Bank AG increased its holdings in Agilent Technologies by 0.9% in the fourth quarter. Deutsche Bank AG now owns 4,436,700 shares of the medical research company's stock valued at $596,026,000 after buying an additional 38,348 shares during the last quarter. Northern Trust Corp increased its holdings in Agilent Technologies by 12.3% in the fourth quarter. Northern Trust Corp now owns 4,192,790 shares of the medical research company's stock valued at $563,259,000 after buying an additional 457,713 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Agilent Technologies by 9.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,231,981 shares of the medical research company's stock valued at $434,184,000 after buying an additional 283,445 shares in the last quarter.

Agilent Technologies Price Performance

Shares of A traded up $0.71 during midday trading on Friday, reaching $114.69. The stock had a trading volume of 1,129,747 shares, compared to its average volume of 1,744,167. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.60. The company has a market capitalization of $32.58 billion, a P/E ratio of 28.32, a P/E/G ratio of 3.46 and a beta of 1.22. The firm's 50 day moving average price is $117.34 and its 200-day moving average price is $119.92. Agilent Technologies, Inc. has a 52 week low of $96.43 and a 52 week high of $153.84.

Agilent Technologies (NYSE:A - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The medical research company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.63 billion. Agilent Technologies had a net margin of 17.59% and a return on equity of 25.92%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. On average, analysts forecast that Agilent Technologies, Inc. will post 5.58 earnings per share for the current fiscal year.

Agilent Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, July 1st were issued a $0.248 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.99 dividend on an annualized basis and a dividend yield of 0.9%. Agilent Technologies's dividend payout ratio is presently 24.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Leerink Partners lifted their target price on Agilent Technologies to $135.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Evercore ISI lifted their price objective on shares of Agilent Technologies from $125.00 to $130.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. dropped their target price on shares of Agilent Technologies from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. UBS Group decreased their price target on shares of Agilent Technologies from $150.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Finally, Barclays increased their price objective on shares of Agilent Technologies from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 24th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $139.77.

Insider Activity

In related news, CEO Padraig Mcdonnell sold 1,508 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $117.44, for a total value of $177,099.52. Following the completion of the sale, the chief executive officer directly owned 37,448 shares of the company's stock, valued at approximately $4,397,893.12. This represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Agilent Technologies Company Profile

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The company operates in three segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The Life Sciences and Applied Markets segment offers liquid chromatography systems and components; liquid chromatography mass spectrometry systems; gas chromatography systems and components; gas chromatography mass spectrometry systems; inductively coupled plasma mass spectrometry instruments; atomic absorption instruments; microwave plasma-atomic emission spectrometry instruments; inductively coupled plasma optical emission spectrometry instruments; raman spectroscopy; cell analysis plate based assays; flow cytometer; real-time cell analyzer; cell imaging systems; microplate reader; laboratory software; information management and analytics; laboratory automation and robotic systems; dissolution testing; and vacuum pumps, and measurement technologies.