Prudential PLC Decreases Stake in Keysight Technologies Inc. (NYSE:KEYS)

Key Points

• Prudential PLC reduced its holdings in Keysight Technologies Inc. by 24.6%, totaling 51,264 shares worth approximately $7.68 million after selling 16,684 shares in the 1st quarter.
• Despite Prudential's decrease, other investors such as Praxis Investment Management and GAMMA Investing LLC increased their positions, indicating mixed investor sentiment toward Keysight's stock.
• Analysts have maintained a positive outlook with an average rating of "Moderate Buy" and revised target prices, including a raise to $200 from JPMorgan Chase.

Prudential PLC lowered its holdings in Keysight Technologies Inc. (NYSE:KEYS - Free Report) by 24.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,264 shares of the scientific and technical instruments company's stock after selling 16,684 shares during the period. Prudential PLC's holdings in Keysight Technologies were worth $7,678,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. raised its holdings in shares of Keysight Technologies by 8.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 56,584 shares of the scientific and technical instruments company's stock valued at $8,479,000 after buying an additional 4,201 shares in the last quarter. Iyo Bank Ltd. grew its position in Keysight Technologies by 93.0% during the 1st quarter. Iyo Bank Ltd. now owns 30,855 shares of the scientific and technical instruments company's stock worth $4,621,000 after acquiring an additional 14,870 shares during the last quarter. Callan Family Office LLC grew its position in Keysight Technologies by 10.1% during the 1st quarter. Callan Family Office LLC now owns 3,826 shares of the scientific and technical instruments company's stock worth $573,000 after acquiring an additional 350 shares during the last quarter. HighTower Advisors LLC grew its position in Keysight Technologies by 1.8% during the 1st quarter. HighTower Advisors LLC now owns 13,625 shares of the scientific and technical instruments company's stock worth $2,041,000 after acquiring an additional 240 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in Keysight Technologies by 6.7% during the 1st quarter. Public Sector Pension Investment Board now owns 26,807 shares of the scientific and technical instruments company's stock worth $4,015,000 after acquiring an additional 1,693 shares during the last quarter. 84.58% of the stock is owned by hedge funds and other institutional investors.

Keysight Technologies Trading Down 3.3%

Shares of KEYS stock traded down $5.62 during trading hours on Thursday, reaching $164.61. The company's stock had a trading volume of 841,749 shares, compared to its average volume of 794,774. The stock has a market capitalization of $28.33 billion, a P/E ratio of 38.64, a P/E/G ratio of 2.40 and a beta of 1.11. Keysight Technologies Inc. has a one year low of $121.43 and a one year high of $186.20. The firm's fifty day simple moving average is $163.15 and its 200 day simple moving average is $158.65. 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 posted its quarterly earnings data on Tuesday, May 20th. The scientific and technical instruments company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.05. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Keysight Technologies had a return on equity of 19.65% and a net margin of 14.50%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities research analysts expect that Keysight Technologies Inc. will post 6.32 EPS for the current year.

Insider Buying and Selling at Keysight Technologies

In other Keysight Technologies news, SVP Ingrid A. Estrada sold 10,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $158.97, for a total transaction of $1,589,700.00. Following the completion of the transaction, the senior vice president owned 108,590 shares of the company's stock, valued at approximately $17,262,552.30. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Satish Dhanasekaran sold 658 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $157.78, for a total value 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,830 shares of company stock valued at $5,124,049. Company insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on KEYS. Bank of America upgraded Keysight Technologies from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $170.00 to $175.00 in a research report on Monday, July 21st. Morgan Stanley raised their price target on Keysight Technologies from $156.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised their price target 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 equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Keysight Technologies currently has an average rating of "Moderate Buy" and an average target price of $187.50.

Keysight Technologies 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.