Olstein Capital Management L.P. Increases Position in Keysight Technologies Inc (NYSE:KEYS)

Olstein Capital Management L.P. lifted its holdings in shares of Keysight Technologies Inc (NYSE:KEYS) by 19.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,150 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,850 shares during the quarter. Olstein Capital Management L.P.’s holdings in Keysight Technologies were worth $6,570,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new position in Keysight Technologies in the first quarter worth about $29,000. Cornerstone Advisors Inc. acquired a new position in Keysight Technologies in the second quarter valued at approximately $30,000. First Personal Financial Services acquired a new position in Keysight Technologies in the first quarter valued at approximately $46,000. Rehmann Capital Advisory Group boosted its stake in Keysight Technologies by 74.4% in the first quarter. Rehmann Capital Advisory Group now owns 783 shares of the scientific and technical instruments company’s stock valued at $68,000 after acquiring an additional 334 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Keysight Technologies by 53.3% in the first quarter. Parkside Financial Bank & Trust now owns 808 shares of the scientific and technical instruments company’s stock valued at $70,000 after acquiring an additional 281 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

In other Keysight Technologies news, SVP Mark Pierpoint sold 13,618 shares of Keysight Technologies stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.15, for a total transaction of $1,023,392.70. Following the transaction, the senior vice president now directly owns 47,533 shares in the company, valued at approximately $3,572,104.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Cullen sold 16,268 shares of Keysight Technologies stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $75.50, for a total transaction of $1,228,234.00. Following the transaction, the director now owns 25,361 shares in the company, valued at $1,914,755.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,718 shares of company stock worth $3,645,835. Corporate insiders own 0.65% of the company’s stock.

Shares of NYSE KEYS traded down $1.00 during midday trading on Monday, hitting $86.39. 65,189 shares of the company’s stock were exchanged, compared to its average volume of 1,086,452. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.46 and a current ratio of 1.90. The business’s 50 day moving average is $89.15. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 2.30 and a beta of 1.31. Keysight Technologies Inc has a twelve month low of $53.21 and a twelve month high of $94.52.

Keysight Technologies (NYSE:KEYS) last posted its quarterly earnings results on Wednesday, May 29th. The scientific and technical instruments company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.31. Keysight Technologies had a return on equity of 27.06% and a net margin of 6.61%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that Keysight Technologies Inc will post 3.88 earnings per share for the current fiscal year.

Keysight Technologies declared that its board has authorized a stock repurchase program on Wednesday, May 29th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

A number of equities analysts have commented on the company. Barclays assumed coverage on Keysight Technologies in a research note on Wednesday, August 7th. They issued an “overweight” rating and a $103.00 target price for the company. Zacks Investment Research upgraded Keysight Technologies from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective for the company in a research report on Tuesday, June 4th. Robert W. Baird downgraded Keysight Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $82.00 in a research report on Monday, May 20th. Goldman Sachs Group downgraded Keysight Technologies from a “buy” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Sunday, July 21st. Finally, Deutsche Bank reduced their price objective on Keysight Technologies from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $94.33.

Keysight Technologies Profile

Keysight Technologies, Inc provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, and electronic industries in the Americas and the Asia Pacific. Its Communications Solutions Group segment provides radio frequency and microwave test instruments, and electronic design automation software tools; oscilloscopes, logic and serial protocol analyzers, logic-signal sources, arbitrary waveform generators, and bit error rate testers; optical modulation analyzers, component analyzers, power meters, and optical laser source solutions, as well as optical amplifier, filter, and other passive component solutions; and related software solutions.

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Institutional Ownership by Quarter for Keysight Technologies (NYSE:KEYS)

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