Bank of New York Mellon Corp Trims Stake in Agilent Technologies Inc (A)

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Bank of New York Mellon Corp reduced its stake in shares of Agilent Technologies Inc (NYSE:A) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,219,266 shares of the medical research company’s stock after selling 135,806 shares during the period. Bank of New York Mellon Corp owned about 1.01% of Agilent Technologies worth $227,087,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in A. OppenheimerFunds Inc. boosted its holdings in shares of Agilent Technologies by 64.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 7,636,621 shares of the medical research company’s stock valued at $472,248,000 after buying an additional 2,980,216 shares during the period. American Century Companies Inc. lifted its position in Agilent Technologies by 16.9% in the 3rd quarter. American Century Companies Inc. now owns 5,359,933 shares of the medical research company’s stock valued at $378,090,000 after purchasing an additional 774,771 shares during the last quarter. Morgan Stanley lifted its position in Agilent Technologies by 67.6% in the 2nd quarter. Morgan Stanley now owns 1,227,627 shares of the medical research company’s stock valued at $75,917,000 after purchasing an additional 495,160 shares during the last quarter. Partner Fund Management L.P. lifted its position in Agilent Technologies by 28.9% in the 2nd quarter. Partner Fund Management L.P. now owns 1,113,069 shares of the medical research company’s stock valued at $68,832,000 after purchasing an additional 249,400 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Agilent Technologies by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,028,152 shares of the medical research company’s stock valued at $72,526,000 after purchasing an additional 14,483 shares during the last quarter.

In related news, CEO Michael R. Mcmullen sold 15,923 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $73.20, for a total value of $1,165,563.60. Following the sale, the chief executive officer now directly owns 492,546 shares in the company, valued at approximately $36,054,367.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Rodney Gonsalves sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $71.06, for a total value of $106,590.00. The disclosure for this sale can be found here. Insiders sold 26,325 shares of company stock valued at $1,930,902 over the last 90 days.

Several analysts recently weighed in on A shares. Needham & Company LLC initiated coverage on shares of Agilent Technologies in a research report on Wednesday, January 2nd. They issued a “buy” rating and a $77.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Agilent Technologies from $86.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 20th. ValuEngine upgraded shares of Agilent Technologies from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Alembic Global Advisors downgraded shares of Agilent Technologies to a “hold” rating in a research report on Monday, December 31st. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of Agilent Technologies in a research report on Tuesday, September 18th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $79.71.

Shares of Agilent Technologies stock traded up $0.48 during trading on Friday, hitting $70.38. The stock had a trading volume of 1,210,700 shares, compared to its average volume of 2,520,938. The company has a market cap of $22.06 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.29 and a quick ratio of 2.74. Agilent Technologies Inc has a 1 year low of $60.42 and a 1 year high of $75.11.

Agilent Technologies (NYSE:A) last released its earnings results on Monday, November 19th. The medical research company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. Agilent Technologies had a net margin of 6.43% and a return on equity of 19.84%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $0.67 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts expect that Agilent Technologies Inc will post 3.04 EPS for the current fiscal year.

Agilent Technologies declared that its board has authorized a stock repurchase plan on Monday, November 19th that permits the company to repurchase $1.75 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Monday, December 31st will be paid a $0.164 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Agilent Technologies’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, December 28th. Agilent Technologies’s payout ratio is presently 23.66%.

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Agilent Technologies Company Profile

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. It 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; microfluidics based automated electrophoresis products; cell analysis plate based assays; laboratory software and informatics systems; laboratory automation; dissolution testing; vacuum pumps; and measurement technologies.

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Institutional Ownership by Quarter for Agilent Technologies (NYSE:A)

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